PLEA gratefully acknowledges our primary core funder the Law Foundation of Saskatchewan for their continuing and generous support of our organization.
Older adults may have different considerations when it comes to money. A large portion of their wealth often consists of the family home. They may also be considering joint bank accounts with their children.
Much of an older adult's money may be tied up in their home in the form of equity that they have built up over the years. Some older adults may need to access this equity to have money to live on. There are ways to do this while you continue to live in your home. There are also options for selling your home and using only part of your equity to pay for a new place to live.
Seniors may decide to have a joint bank account with another person such as one of their adult children. They may decide to do this for convenience or as part of estate planning. In either case, it is important to know the risks and benefits of joint bank accounts.
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