Do I need to be off the bank accounts?

[NewPage]

My husband and I have 2 joint checking accts with Bank of America. One is a personal account, the other is for his business. He is a sole proprietor, I am just a signer on the account. I have a debit card for the personal but not the business.

We seldom have a large balance in the personal acct; most of the money sits in the business acct and is transferred over as needed.

Does we need to take my name off of those accounts? I have a credit card (in my name only) with B of A, which I am current on and plan to stay current on for the time being, specifically so they do not clean out the bank accounts if/when I default.

I have had a different checking/savings account with Bank of the West for going on a year. It's an individual account that I plan to keep open. No credit with them, don't intend to have any either.

[Shawshank]

Unless you will have the card with BOA paid off before you file, you will most likely want to have those accounts closed and have him open accounts with a different bank.
I guess you could just be removed from the account, but I wouldn't be willing to risk the account being swiped due to a small technicality.
It may be a hassle right now, but could save a HUGE hassle in the future....

[NewPage]

Hm. Okay. I will chew on that one and let DH know. Thank you.

[tigergem]

B of A will not let you "just remove" somebody from an account. The account has to be closed, and the other person, in this case your DH, would have to open a different account. Whether that is with B of A or not... (shrug)... up to him I guess.

[researchmode]

I hate to contradict you, but I was removed from three accounts at Bank of America. It was very easy. I'm in Florida, I don't know if maybe BOA in different regions have different rules.

- You MUST go with the person who is on the account. You have to be there at the same time.

- Sign in and wait to be called. (To make this more interesting, take a small child with you, lol.)

- Tell them you want to be removed from your joint account. They will ask if all parties on the account are present.

- Both parties give their ID and wait. The removed party signs a form which they will not want to give you a copy of, but if you push it they will. The form basically states that you have no further stake in the account.

I went with my mom to get off her checking and savings account and later that week with my husband to get off our joint account. No problems whatsoever.

[tigergem]

Not in Texas, you can't do it that way, and this has been the rule for several years. Only one account signer has to be present to do it, but the deal is the account(s) have to be closed.

[SMinGA]

Perhaps this is because TX is a community property state? Though in that case it does not matter which spouse is on the account since what's owned or owed by one is owned and owed by both.

Not in Texas, you can't do it that way, and this has been the rule for several years. Only one account signer has to be present to do it, but the deal is the account(s) have to be closed.

[tigergem]

The same holds true whether the joint account happens to be with a spouse or not a spouse, so I doubt that community property has anything to do with it.

[NewPage]

Well, I guess there is only one way to find out, right?

[WhatMoney]

Well, I guess there is only one way to find out, right?

Washington Mutual/Chase would not let me take my name off a joint account with my mother. Had to close the account first, and open a new single owner account. Made no difference who was present. Banks can have different policies. I think even branches can have different policies.