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 12 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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