Sudoku
WARNING: USE CAUTION WHEN ADDING PEOPLE TO YOUR BANK ACCOUNT!
Consider A Silent Partner Co-Trustee
Solution on Pg. 4
No matter how tempting it may seem, you can’t afford to fall into the trap of adding your children or anyone else — except your Co-Trustee! — to your bank accounts. If you are single and have a “Silent Partner Co-Trustee,” your bank accounts should be registered in the name of your Trust, and that includes naming the Co-Trustee on the title. However, if, against our advice, you do not have a Silent Partner Co-Trustee or you have decided not to put your bank account in the name of your Trust, please do not add a non-Trustee to your bank account! The purpose of naming a Silent Partner Co-Trustee in your Trust and adding that person’s name to your bank account as a Trustee is to give your Co-Trustee access without giving the Co-Trustee’s creditors and predators access to your accounts. This is a big problem, and it is perpetuated by banks and peers. With all due respect to banks, they do not give legal advice. So, when you asked them to add someone to your bank account, they accommodate your request. They are not expressing an opinion on whether this is a good idea, they are simply doing what you asked. When the IRS tells the bank to freeze the account due to unpaid income taxes by the person you added to the account, the bank will accommodate them also. On the other side, peers freely dispense legal advice. They will tell you that you that they have added all of their children to their bank account, and there hasn’t been a problem … yet (I added “yet”). Your friend will not have a problem until the bank makes the funds available to the creditors of the children. What most people don’t understand is adding someone’s name to a bank account that is not in the name of your Trust and consequently does not have the Co-Trustee’s name on the account is considered a gift of a portion of your account. The individual added to the account doesn’t have to withdraw the funds or even be aware that their name was added to the account for the transaction to be considered a gift. It is the “gift” that exposes the account to the person’s creditors. Often time we hear a person “only added this person as a signer on the account.” There is no such thing as adding a “signer” to the account. This person becomes a co- owner and the gift has occurred. Furthermore, assets passing outside the Trust will cause an unequal distribution leading to family drama and potentially litigation. There are no benefits to adding a non-Trustee to your bank account, only risks — don’t do it!
Pumpkin Pie Parfaits
Inspired by Kenarry.com
Ingredients
• • • • • • • •
3.4 oz instant vanilla pudding mix
2 cups cold milk
15-oz can pumpkin purée
1/2 tsp cinnamon 1/4 tsp nutmeg
1/8 tsp ground cloves
1 cup vanilla sandwich cookies
8 oz whipped topping
Directions
1. In a large bowl, whisk together pudding mix and milk. Let sit for 5 minutes, then stir in pumpkin purée, cinnamon, nutmeg, and ground cloves. 2. In a blender or food processor, crush vanilla sandwich cookies into crumbs. 3. In small jars or glasses, place cookie crumbs on bottom, then pumpkin mixture, then whipped topping. Repeat these layers twice and end with cookie crumbs.
4. Chill until ready to serve!
3 800.698.6918
Made with FlippingBook Ebook Creator