Named on parents bank accounts

[FloridaGuy]

Hi again,

I see several postings about joint accounts and so on, but can not find an anser to this question.

While speaking with the in-laws last night explaining our situation we found out that they have some money market accounts and CD's with both of their kids names on the accounts. (i.e. my wfe and her sister) Which we did not know existed until last night.

Even though the accounts are in the in-laws names primarily, can that cause them (or us) an issue since my wife and her sisters name is also on them. The money market accounts are easily enough changed or closed... however the CD's are a different story without them losing a bunch of interest, early withdrawl fee's etc.

We have a 3pm appointment with the attorney today to discuss our plan of action/timing, etc. so it's coming down to the wire.

Thanks again for all the great input on this site.

[JRScott]

Is she like listed as an heir?

Certainly this might be something to run by the lawyer as new information you just learned.

[magyar123]

You won't have to worry about her name being on the account unless her and her sister's SS#s are reflected in any way, shape or form on the account(s).