Should adult children be added as a co-signer on a bank account? Estate planning experts explain why they should not be added as a co-signer, what the liability is and the difference between a co-signer and a beneficiary.
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The American College of Trust and Estate Counsel, ACTEC, is a national association of approximately 2,500 peer-elected lawyers and law professors from across the United States and abroad with expertise in estate planning, probate and trust administration.

Video highlights
00:00 - Introduction
00:30 - How early is it to start thinking about estate planning?
01:19 - Can I just add my kid’s name to my bank account?
02:28 - What are the disadvantages to adding a child to a bank account?
03:00 - Can it avoid probate?
04:18 - Can it help with long-term care financial management?
05:28 - Bank tellers recommend adding children to accounts. Is that correct?

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