Monday, December 12, 2011

What kind of access does a beneficiary to a bank account have?

I have a mother in law who is a a beneficiary on my and my husband's bank account. However, I am worried about what "rights" or benefits she has as a beneficiary. I know she can put money into the account (anyone can) but can she access information on the account? Like account summary? Current money in the account, direct deposits linked to that account, all that sort of stuff.|||she merely inherits the funds in the account after both you and your husband die.nothing more. no access whatsoever|||She has no access to your account. If you and your husband both die, she would then inherit the funds. That's all a beneficiary means.|||If her name is not on the account as an account holder then absolutely nothing.|||No access.

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