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Savings Account left to specified beneficiary
VicksLester
Posts: 40 Forumite
Removed - posted twice
0
Comments
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Dangerous and unreliable practice.
If you sold your house and put the money in that account for a couple of weeks, then die - they'd get the lot.
Similarly, if the bank etc is taken over, the account may cease to be the same one, so they get nothing.
We recommend percentages of estates rather than individual financial assets.
One small bank account could be everything you have left if you end up in a care home, and that kind gesture could cut out the rest of the family!0
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