Why Joint Accounts Are a Good Idea

Why Joint Accounts Are a Good Idea

Having your spouse’s name on your financial and personal accounts is a good idea while you are deployed. If there are any problems, negligence or changes that need to be made to your accounts while you are gone, your appointed family member can handle them for you. There are a few things you need to do before deploying to ensure that there are no problems with cosigning.

1. Ensure that both names are clearly stated as having full access to all account information and transactions.
2. Contact your financial institutions and confirm that you are allowing another person access to your accounts and that transactions can be completed using only his or her signature.
3. Mark a calendar with important dates including payments and specific milestones in your loan repayments or mortgage.

Adhering to these steps can help reduce stress, confusion and frustration in the future.

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