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CalAttorney2, Attorney
Category: Legal
Satisfied Customers: 10244
Experience:  Civil litigation attorney for individuals and businesses.
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My mother (80) and I (60), share a checking account in the

Customer Question

My mother (80) and I (60), share a checking account in the state of California. If she or I were to get into a legal suit, such as a car accident, would the other of us have any liability because we have a joint bank account?
Submitted: 2 years ago.
Category: Legal
Expert:  CalAttorney2 replied 2 years ago.
If you share a joint bank account, that is the extent of your joint liabilities.So assuming one of you ended up having a judgment against them, and the creditor got a bank levy (and throughout this entire process you didn't close the account), they could then take the money out of that account alone. None of your other individual assets would be at risk for liabilities of the other.
Customer: replied 2 years ago.
Thank you. I understand.
Expert:  CalAttorney2 replied 2 years ago.
You are welcome, and I do wish you the best with this matter.Thank you for using our forum, and please do not forget to rate my service so that I can receive credit for assisting you.Thank you again, and again I wish you the best.Bill