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Temporary Card Enough to Gain Access to Account?

Answered by: 
John Burnett

Question: 
Here is a scenario: My husband and I have an account. We want to add his kids to it. We sign a temporary card with our kids name on it at the bank and they give us a copy. On our way to get our kids to sign, we get killed in a car accident. Will the temporary card with our kids names on it be enough for them to get the money left in our account?
Answer: 

Probably not. The signature card has not been completed and returned to the bank, so the account legally remains in the original two names, and becomes part of the estate of whichever of you the law of your state decides was the last to die.

First published on BankersOnline.com 10/31/11

First published on 10/31/2011

Filed under: 
Operations
Filed under operations as: 
Estate
IT

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