Joint Account Là Gì

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Consumer Reports, she is an expert in credit and debt, retirement planning, home page ownership, employment issues, và insurance. She is a graduate of Bryn Mawr College (A.B., history) & has an MFA in creative nonfiction from Bennington College." data-inline-tooltip="true">Julia Kagan
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Erika Rasure, Ph.D., is an Assistant Professor of Business và Finance at Maryville University. She has spent the past six years teaching & has included FinTech in personal finance courses và curriculum since 2017, including cryptocurrencies and blockchain.

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What Is a Joint Account?

A joint trương mục is a bank or brokerage trương mục shared between two or more individuals. Joint accounts are most likely khổng lồ be used by relatives, couples, or business partners who have sầu a cấp độ of familiarity and trust with each other. It typically allows anyone named on the account khổng lồ access funds within it. There are multiple ways accounts can be established, each with its own implications for how money or assets can be accessed within the account or how the contents of the tài khoản are handled after one of the joint holders passes away.


A joint trương mục is a bank or brokerage account shared by two or more individuals.Joint trương mục holders have equal access lớn funds but also share equal responsibility for any fees or charges incurred.Transactions conducted through a joint tài khoản may require the signature of all parties or just one.

How Joint Accounts Work

Joint accounts work just lượt thích regular accounts, except they can have sầu two or more authorized users. Joint accounts can be established on a permanent basis, such as an account for a couple into which their salaries are deposited. The tài khoản may also be temporary, such as an trương mục between two parties who are contributing funds in the short term.


Bank accounts held jointly between two parties may be titled with an "and" or an "or" between the tài khoản holders' names. If the trương mục is listed as an "and" tài khoản, then both/all parties must sign to access the funds. If it is an "or" account, only one of the parties needs lớn sign. 


Accounts that are jointly held include deposit accounts at banks including checking & savings accounts, credit cards, và other credit products such as loans, lines of credit (LOC), & mortgages. The joint status authorizes all those listed on the trương mục full use, but also the responsibility for any payments, fees, or charges incurred.


Opening a joint tài khoản is as simple as opening up a single trương mục. Both parties should be present at the bank when the account is open—whether that"s a deposit account or other hàng hóa like a mortgage or loan. For credit cards, adding a secondary or authorized user is akin lớn opening a joint trương mục. In most cases, this requires the signature of the second tiệc ngọt.


Uses and Benefits of Joint Accounts

Joint accounts can be useful for their holders and provide a number of benefits. Many accounts require minimum balances, particularly if the holder wants to access the benefits of a specific account type. By pooling their money, two people can bypass this requirement & reap the benefits of the account.


Opening a joint tài khoản may also be helpful to newer couples who are combining their finances. Couples may find it easier to lớn have sầu a single tài khoản into which they can deposit their paychecks and make payments for their rent or mortgage, bills, or other joint debts.


A senior may find it useful to lớn add one of their children or another authorized user khổng lồ their accounts in order to lớn pay bills & do routine banking on their behalf if & when they are not able to do so on their own.


Pitfalls of Joint Accounts

Joint accounts can cause problems, however, because they generally provide all parties unlimited access to lớn the funds. Thus, if one spouse has difficulty controlling their spending habits, this may affect the other spouse, who may be more frugal. The frugal spouse cannot challenge the withdrawals or transactions of the other spouse with the ngân hàng because they are listed as a joint trương mục holder.


Another thing to keep in mind with joint accounts is that all parties with access are responsible for any & all fees và charges. If your husb& runs up your joint credit card, you are equally responsible for paying it back. Similarly, if your joint checking account goes inkhổng lồ overdraft, you are both liable for the negative sầu balance.

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The government may seize any funds in a joint account lớn satisfy an outstanding order. That includes back taxes that may be owed, child support, or other court-ordered garnishments.


It is best for both parties lớn speak khổng lồ discuss the responsibilities associated with opening a joint account before doing so. This can avoid any unnecessary problems và conflict that may arise.


All parties should discuss the pros & cons of opening a joint trương mục lớn avoid potential future conflicts.


Joint Account Rights

There are several titling mechanics that designate how the funds are divided if one of the parties on the account passes away. These options are required on brokerage accounts.


Joint Tenants with Rights of Survivorship (JTWROS): If one of the parties passes away, the assets in the account pass by the rule of law—outside of probate—to the surviving parties.


Tenants in Comtháng (TIC): This allows each joint holder of the trương mục to designate their own beneficiary for their portion of the assets in the event they pass away. Instead of transferring by the rule of law to lớn the second trương mục holder, the assets are passed khổng lồ the beneficiary. In addition, the assets may not be automatically split 50/50. The TIC designation allows the tenants lớn divide ownership of the property any way they choose.


Joint Tenants option: Selecting this option mandates a 50/50 split of the assets in the joint tài khoản.


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