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Q&A: Powers of attorney, joint accounts and practical resources for families
Summary
During Q&A, Clea Harris responded to attendee questions on joint bank accounts, abuse of powers of attorney, probate versus trusts, working with geographically dispersed children, and pointed to an online Angel Advocates Academy available in her workbook.
In a question-and-answer session following her slides, attorney Clea Harris addressed common family scenarios and practical safeguards. When asked why people should avoid putting a child on a bank account, Harris said that joint ownership can make the child a co-owner who is difficult to remove and who also exposes the elder's funds to the child's liabilities. "Once they're on there, now this is when they're joint on the…
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