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To: EL KABONG!!! who wrote (4805)3/23/1999 10:37:00 PM
From: Mike Devour  Read Replies (1) of 32873
 
Thank you Kerry,

You wrote:
... "Co-account holder" ... has equal rights to ... trading, shorting, closing the account, loans, margins, etc... This is a nice feature where you can trust your "Co-account holder", but dangerous if you and your "Co-account holder" don't see eye-to-eye...

Fortunately I've got a trustworthy spouse who won't be actively trading. Her being able to step in for me in a pinch would be reassuring for both of us.

You wrote:
... with JTWROS ... as with a "Co-account Holder", your spouse would have equal rights within the account.

I'm beginning to realize that the two are linked. To be JTWROS seems to require us to be co-holders of the account.

My estate isn't big enough to justify going the trust route at this time. However it is appropriate to update our wills and make certain we have powers of attorney for what needs doing, etc.

I don't mind seeing my lawyer to finalize all this, but I'd much rather have it somewhat settled in my mind what I should be having him do before I'm sitting there on the clock!

Hope this hasn't confused you too much.

Not at all, Kerry. Thank you for your kind reply.

Mike D.
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