Legal Question in Banking Law in Maryland
What preparations Should I make so family members can access my bank accounts after my death
2 Answers from Attorneys
There are various estate planning techniques you may choose to use to take care of your family members after your death. These include, but are not limited to, (i) putting the names of your family members on bank accounts as joint account holders, (ii) creating a trust, (iii) leaving specific money amounts to specific family members through the terms of a will. I STRONGLY recommend that you contact a Maryland estates and trusts attorney to discuss the pros and cons of each, other alternatives, the tax consequences, etc.
Best of luck.*******The above is intended for informational purposes only and does not create an attorney-client privilege.********
A very simple will could accomplish this, as well as any other dispositions of your property that you may wish, and would not cost very much money to prepare. Please feel free to email me at [email protected] if you would like to discuss this or any other options, or just if you have followup questions. Good luck.
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