Ask Terry Questions Bank Accounts signatory

Bank Accounts signatory

By Terry Savage on April 01, 2024 | Financial Planning / Retirement

My wife and I are closing in on 78 years old. We have a trust agreement and wills. Should our children also have signature access to our bank accounts?

Terry Says

If your bank accounts are in your name — and not in the name of your Revocable Living Trust — then it might be a good idea to add an adult child as a signatory.

Larger accounts should be held in the name of the trust — and your successor trustee who you named, can act if you are incapacitated. Or after your death.

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