New Question about unknown bank account.

[Freddy03]

I do not want to tell my in-laws about us filing. They are old school and we would never hear the end of it!!

But as I was talking to my husband last night about what steps we need to do I remember his parents telling us a few years ago (before they were going on a cruise) that they had a checking account with my husband and sister in law's name on it in case something happened to them. I believe it was like payable upon death or something.

My husband seems to think it won't matter but I'm not sure. I definitely do not want to ask them about the account. I tried to call the bank but they wouldn't give me any info b/c I don't have the account number.

Anyone know about this??

[SMinGA]

It may take a little digging to determine the situation, but if you or your husband are on the account only as a 'payable upon death' then the account is not your asset. Kind of like an insurance policy naming you as the beneficiary. Its not an issue unless & until the clause is carried out. Your husband can probably contact the bank, give his SS# and ask if he has an account in his name. If no, nothing to worry about.