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Questions tagged [joint-account]

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28 votes
10 answers
3k views

Which practice to keep finances after getting married: joint, or separate?

My wife and I have been keeping our finances separate for a long time. Some of my friends just put everything in a big pot. We each have our own pot, but then we have a common pot where we put all ...
Geo's user avatar
  • 5,825
17 votes
7 answers
8k views

Should I open a joint credit card account with my girlfriend? She can't get her own card

My girlfriend has been unable to get a credit card because of an outstanding (and, we think, fradulent) debt on her record. We tried to contact the collection agency using the address listed on all ...
awshepard's user avatar
  • 779
13 votes
4 answers
3k views

A credit card for the two of us: apply together or get it on my own?

My girlfriend and I are currently restructuring our finances to simplify our financial relationship and to discourage frivolous spending habits such as eating out. We have shared access to a joint ...
rm -rf slash's user avatar
11 votes
3 answers
4k views

How should we deal with money during my spouse's maternity leave?

I recently realised that my partner is more anxious than I suspected about what we're going to do about money. Principally, she feels guilty for spending money on herself, and is worried about the ...
deworde's user avatar
  • 212
9 votes
3 answers
70k views

Can my significant other deposit a check made out to me?

We share a bank account; if the check is made out to me personally, can I have my other half run it to the ATM while I'm at work? Also, is it legal to do so?
Yamikuronue's user avatar
  • 1,319
9 votes
2 answers
1k views

What are the financial implications of merging my wife's bank and investment accounts with mine?

Background I've been married to my wife for eight years & live in Washington State. For that entire time, we've had separate bank and investment accounts, mostly due to inertia. I make most of ...
user81142's user avatar
6 votes
5 answers
10k views

Joint bank account - is this normal?

I've recently opened a joint bank account with my fiancee. And yet, everything seems to be in his name, with me tacked on as an afterthought. Is this the normal way of doing things? If I were to move ...
Yamikuronue's user avatar
  • 1,319
6 votes
3 answers
7k views

Depositing a check with both wife's and my name into my sole account

Not thinking, I deposited a check written out to both my wife and me into my sole account. The check seems to have cleared and it has been a few days since then. The check said "and" between ...
The Dude's user avatar
  • 169
6 votes
1 answer
5k views

Would there be issues with giving someone a gift out of a joint account if the total is over the annual limit per person?

My sister and I would like to give another relative $25,000 as a gift. We have a joint bank account together, and had planned on writing a single check from the joint account for the full amount. We ...
Stan's user avatar
  • 63
5 votes
2 answers
808 views

Why doesn't the UK allow paying income tax as a couple, like the USA?

This is possibly an unanswerable question, but I'm curious as to why the UK doesn't have the concept of paying income tax as a couple, the way the USA does? It occurred to me a few days ago that, ...
Richiban's user avatar
  • 493
5 votes
1 answer
291 views

Marriage merger of finances and continuity of records

I just got married last week. Yay! I've been using Microsoft Money for 15 years. I have one gigantic file that has all of my transactions since early 1996 in it. I can use it to generate all kinds ...
Shawaron's user avatar
  • 6,244
4 votes
5 answers
2k views

What things should I consider when getting a joint-mortgage?

I'm currently renting and I'm wanting to buy a house in the area to live in (because I want more space and I want my money to go into an asset rather than simply losing money I'm paying in rent). ...
Dai's user avatar
  • 1,837
4 votes
2 answers
453 views

Should a joint credit card be cancelled upon the death of the person named on the card?

This is specifically about credit cards issued within the UK. A little over 2 years ago, my father died, at the time of his death, my parents had joint credit cards (or, credit cards linked to a ...
Dark Hippo's user avatar
4 votes
1 answer
19k views

when you have a joint bank account who pays the 1099-INT taxes?

Let's say there are two people on a bank account. They both file taxes independently and aren't married or anything. Who then pays the taxes for the 1099-INT? Can the payments be split 50/50? Should ...
neubert's user avatar
  • 3,832
4 votes
1 answer
1k views

Different types of ownership in Vanguard mutual fund

I'm opening a joint account with my wife, and see the following options. What do they mean? Tenants with right of survivorship. Tenants by the entirety with right of survivorship. Community ...
Heisenberg's user avatar
3 votes
3 answers
413 views

Does "community property" apply to day-to-day finances or only during a divorce?

What is the scope of the "community property" concept? Does it have any practical meaning in the scope of day-to-day finances for a married couple or does it apply to their finances only if divorcing?...
Kurt Granroth's user avatar
3 votes
1 answer
61k views

Can a check made out to 2 people be deposited into a non joint account?

Can a check made out to 2 people be deposited into a non joint account? I have a check made out to myself and another person My bank will not allow e to deposit it into my personal account and there ...
HOLLIS ROSS's user avatar
3 votes
1 answer
2k views

Legal right to ask for someone bank records UK

My mother is involved in a dispute with her recently deceased partners daughter, who is demanding to see records of the joint bank account she held with her partner. My mother acted as her partner's ...
Lee Far Out East's user avatar
3 votes
1 answer
758 views

My checking account used to be joint- can I still use the checks with both names?

I have a checking account for bills that I mostly use a debit card for, but I need to pay something by check now. This account used to be a joint one with my mom when I was a kid, but we took her off ...
user avatar
3 votes
3 answers
2k views

Cashing a joint check

My girlfriend (over 18) is estranged from her parents, but recently discovered money in her name in the form of stocks. She sold the stocks, but the company that handled the transaction sent a check ...
Jerr's user avatar
  • 141
3 votes
1 answer
572 views

How would I account in GnuCash for me and another entity contributing to a joint account?

Me and my wife are starting a joint account, separate from both of our accounts. The intent is for both of us to contribute equally to the account and use it for joint purchases. When I make a ...
KOVIKO's user avatar
  • 163
3 votes
1 answer
44k views

Joint account that requires all signatures of all owners to withdraw money?

I want to open an account/cheque that works like a joint account but when some one want to withdraw the money, he/she must have all the agreement/signatures of all of the rest of the other owners. ...
Nam G VU's user avatar
  • 131
3 votes
3 answers
734 views

How to account for a shared mortgage in QuickBooks Online?

I co-own a house with two unrelated friends. We have a single mortgage that we're each responsible for our fraction of. We've been keeping track of our payments in a spreadsheet but for a variety of ...
Leopd's user avatar
  • 181
2 votes
2 answers
1k views

Credit card not showing up on joint account holder's credit report

My wife has practically no credit, and we're trying to build it up. About 9 months ago I opened a Kohl's store credit card, and added her as a joint cardholder. We recently went through her credit ...
mvdavid7's user avatar
  • 121
2 votes
1 answer
628 views

Modeling joint expenses in gnucash

I want to set up gnucash to register the house expenses and be able to see how much money I should return to my wife or her to me every month. The situation is as follow: We share common expenses ...
Patricio Inzaghi's user avatar
2 votes
1 answer
332 views

Need help depositing a joint check without a joint account

I think I've really screwed myself over here. I was dating someone and I bought a car with them. It was all my money used to buy the car. I put the title under both of our names because I wanted it to ...
florabtw's user avatar
2 votes
1 answer
336 views

Joint bank account, give money to son/executor without gift tax implications

My grandfather passed away. I was added as a joint account holder onto his bank account to manage his money and bills as nobody else could after my mothers passing. His Son is also a joint account ...
JayG30's user avatar
  • 21
2 votes
2 answers
209 views

Change in a joint account

My father and my mother are joint owners of a saving account in Punjab national bank Jalandhar Punjab. Now they want to change the nominee of the account. Do both of these joint owners require to ...
Jasbir singh's user avatar
2 votes
2 answers
666 views

Try to invest ETF with my wife, should we open individual account or joint account?

Recently, my wife and I are looking at ETFs and hope we could invest some. While we were opening accounts, there are two options, one is individual and the other one is joint account. We thought ...
lilixiaocc's user avatar
2 votes
1 answer
346 views

How to report nominee dividend income claimed by another?

In the U.S., if I receive a 1099-DIV for an account that is titled with me as joint tenant with another individual that lists my name first and is reporting under my social security number, how do I ...
WilliamKF's user avatar
  • 1,823
2 votes
0 answers
58 views

How do co-applicants affect loan terms and credit histories?

Alice and Bob are considering applying for a loan - for a discussion example, an Acme credit card. They have no previous credit connection. Applying individually, Alice would probably not be ...
WBT's user avatar
  • 2,905
2 votes
0 answers
100 views

Should I have a Joint account with spouse? [duplicate]

We have been married for almost 10 years, and have a stable, happy relationship. Both of us were working and living independently before getting married, and we continued the arrangement after ...
user61034's user avatar
  • 121
2 votes
0 answers
62 views

Municipal bonds for married couple in different states

I am living in Michigan (state income tax) and my spouse is living in Washington (no state income tax). We are interested in investing in municipal bonds. From my understanding, in order to take ...
zilla's user avatar
  • 121
1 vote
3 answers
1k views

Can putting someone else as an authorized user on my credit cards hurt my credit score?

First of all, the other person would not get the physical cards (I would get the second card with their name, but destroy them upon receipt), so the balances should be safe. However, I'm unsure if ...
RubyNoob's user avatar
  • 131
1 vote
2 answers
104 views

Can I make a joint account in UK?

I am an international uni student living with a British student in UK. Due to complications in dividing money when it comes to buying groceries, we decided it would be best that we open a joint bank ...
Dan's user avatar
  • 43
1 vote
3 answers
178 views

What happens to your ability to borrow money based on our joint finances?

We want to borrow money to buy our first home. We will be married soon, and want to know how the combination of incomes, expenses and debts will impact the ability to get a mortgage. There's the ...
sara-anna's user avatar
1 vote
1 answer
27k views

writing check on joint account

I need to pay mom's bills. I'm on her account, but her checks don't have my name on them. It is a joint account. Can I legally sign her checks, and will her creditors and her bank accept them?
Clay Wilson's user avatar
1 vote
2 answers
2k views

Joint bank account and taxes in UK

I am working full time in UK and don't have any other jobs or money sources except this full time job. I have a bank account in HSBC UK. My wife is going to register as self employed (freelancer) here ...
AME's user avatar
  • 324
1 vote
1 answer
5k views

FBAR - Filer is Principal Joint Owner

It is unclear in the instructions what to put in the "Principal Joint Owner" section for a joint account where the filer is also the principal owner. Under the "Number of joint owners" in the ...
Ex Umbris's user avatar
  • 518
1 vote
0 answers
321 views

Taxes Related to CD with Primary and Secondary Account Holder

I visited a Bank of America branch and the representative told me that I can open a Certificate of Deposit account with them and have my mother, a nonresident alien, be the primary account holder ...
kd8's user avatar
  • 11
0 votes
1 answer
490 views

How is tax attributed on a joint savings account?

My girlfriend and I may both use up our ISA allowances this year. We are currently saving for a deposit on a house, so we are considering opening a joint bank account. Next year, I will probably be ...
Alex Chamberlain's user avatar
0 votes
1 answer
488 views

joint savings account requiring three signatures

Savings account requiring three (and) signatures for withdrawals. Does the (and) change to (or) upon the death of one of the signatories? Wells Fargo bank changed the requirement for two signatures ...
Bernie Sanchez's user avatar
0 votes
1 answer
114 views

Joint Account Signatories

If joint account have three signatories and instruction says account operates with joint signatures without any further specification of "any two", how many signatures are required to do financial ...
Saad's user avatar
  • 1
0 votes
1 answer
2k views

Transfering from joint bank account to personal account: implications for gift tax

Say person A has a bank account with US$20k in it, and then A adds B (not a spouse) to the account, so it's now a joint account. B then withdraws the money and deposits it to his personal account. ...
Mas's user avatar
  • 183
0 votes
1 answer
347 views

Tax implications of adding a LPR spouse as a joint account holder

If a US permanent resident adds a US permanent resident spouse as a joint account-holder on a brokerage (or other) account, what are the gift tax implications, if any? I believe that in the case of ...
user avatar
0 votes
1 answer
364 views

Married Couple - Open investment account Separate or Joined?

As a married couple, you could open investment accounts separately (one or two) or jointly. This is not about IRA or Roth accounts, but for standard investments, in the US. For this question, ignore ...
Aganju's user avatar
  • 37.7k
0 votes
2 answers
279 views

How much risk is a debit card, if stolen?

I have a debit card that I share with my spouse. I keep just a small amount in the account linked to it. She was overcharged accidentally, and I noticed a negative balance on the card. I ...
Ken - Enough about Monica's user avatar
0 votes
2 answers
306 views

How to create joint foreign currency account in Israel between US/Israeli citizens

I live in the U.S. (American citizen) and my son in Israel (Israeli citizen). I want to know if it's possible to open a joint foreign currency account which would permit me to lend him money and ...
  BubbeCraft's user avatar
0 votes
1 answer
106 views

Is my spouse at risk for a joint filing in a year where I have settled a major debt? [closed]

I settled and wrote-off a major debt. This was recorded as 1099-E income. I incurred all of this debt under my name only, and she was not my spouse at the time I got into the debt. She was my ...
New Alexandria's user avatar