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Nominated Bank Accounts
Hitting
Posts: 191 Forumite
My wife and I both senior citizens,have sole online investments and saving accounts.Associated with these accounts are nominated everyday bank accounts.Should the nominated account be a joint account or sole account?
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Comments
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It doesn't really matter unless there's anything specifically mentioned in the terms of any of the accounts concerned.0
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Are their any advantages for one option or the other in the event of the death of spouse,and access to accounts?0
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In general, joint accounts will simplify matters on death of one of the account-holders, but if both of you already have separate savings accounts and investments then this is probably a largely moot point, in that there presumably wouldn't be any great urgency for the surviving spouse to access the deceased's money....Are their any advantages for one option or the other in the event of the death of spouse,and access to accounts?0 -
For this to be the case then it is wise to have the sole investments linked to the sole bank account!0
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