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ageing parent

We have an ageing parent, he added my sister and myself to his bank account with signing power . My sister is haveing finacial problems and is considering bankruptcy. Would my fathers account be at risk?

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One Response to “ageing parent”

Barton Goth GCO Bankruptcy Trustees said...

It is potentially possible, but not likely. The important thing is that you disclose this to the trustee from the very begining so they are aware and can provide the necessary informaiton to the creditors.

The only time I would really be concerend is if your fathers bank is held at an institution where your sister owes money. In that case I would recommend that you remove her from the account.