How can a joint bank account be put at risk?

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How can a joint bank account be put at risk?

My 91 year old uncle and I have a joint bank account. He still drives. If he gets in a major accident and gets sued, are my assets at risk once this account is levied?

Asked on April 4, 2012 under Bankruptcy Law, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I think what you are asking is if there is a judgement rendered against him say for negligence in a car accident can they levy on the bank account you hold jointly.  The answer is yes, they can.  I would speak to your uncle about retiring his license and possibly getting him a driver when he needs it.  And I  would think twice about the joint account.   Good luck.  


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