By Sandy Botkin CPA. Esq
“ Don’t tax him. Don’t tax me. Tax the guy behind the tree”— attributed to Former Congressmen Rostenkowski
By Sandy Botkin, CPA and Tax Attorney
By Sandy Botkin CPA, Esq.
Copyright 2009 by Sandy Botkin. All Rights Reserved.
“Planning is bringing the future into the present so that you can do something about it now!—Alan Lakein
Joint accounts have for years been considered the "poor man's will." After all, property passes outside of probate to the joint owner. Thus, you avoid any legal fees involved with probate. This becomes particularly important if you want to leave certain assets to your kids and not to your new spouse. Moreover, many joint accounts are set up so that the kid can help pay bills for the parent. Thus, it seems like a good idea and is recommended by many financial planners.