Joint Accounts With Children Can Cause Big Family Problems-Minnesota Estate Planning Attorney

http://www.mnestateplan.com Minnesota Estate Planning Attorney Bill Peterson discusses the possible dangers of using a joint account between and elderly parent and their child. While the option of using a joint account to pay for bills can seem like a simple solution, there can be big issues once the parent passes away. The contents of this video are for information only and are not to be interpreted as legal advice. For personal legal advice you should consult with an attorney who is experienced in probate law or estate planning. Nothing contained in this video was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended; (2) any statement contained in this video relating to any federal tax transaction or matter may not be used by any person to support the promotion or marketing or to recommend any federal tax transaction or matter; and (3) any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor with respect to any federal tax transaction or matter contained in this video. No one, without our express written permission, may use any part of this video in promoting, marketing or recommending an arrangement relating to any federal tax matter to one or more taxpayers.