Legal Question in Family Law in Florida
JTWROS liability
My mother is 89 years old and wants me to be JTWROS on her checking account. If she should have a catastrophic illness with huge medical bills would this make me liable in any way?
1 Answer from Attorneys
Re: JTWROS liability
If she incurs liability immediately, knowingly, this oculd be viewed as a fruadulent transfer. If she is not currently sick and in debt that is not likely. In any event, you would never be liable for an amount greater than what is in her checking account. The more troubling part is that SHE is exposing HER money to YOUR potential liabilities (like if you get into a car accident tomorrow), which is why estate plnners discourage elderly clients from putting their children (who are still driving, working, and more exposed to liability generally) on their property.