Depending on how you are viewing it, a joint account is usually associated with more than one fellow, it can be between friends, between family members, an association, a club, or between a man and his wife, our main focus as far as this piece is concerned. This write up is to teach either a new couple or the ones that have been in the union for long on the best ways to handle a joint account opened in their names, it is pertinent to know how to run such an account to avoid any form of acrimony.
The worst that can easily affect a marriage is not having a solid agreement on the best way to run such a class of account, to avoid this, please stick to these steps if you intend to open a joint account with your partner
Please spell out the terms of the agreement between you too, this has to be crystal clear to avoid any form of dispute or argument whatsoever, shying away from such step can be counterproductive. Issues like percentage that will go to each party, when to withdraw, issue of what the monies are meant for, and so on should be agreed on before deciding on opening one
Signatures ought to be appended at convenient terms, just as stated under the terms above, it shouldn’t just be at any time of the day. The partners should always respect the convenience of one other, it should be done with the utmost consideration for time and being at ease.
One thing that could easily rubbish such a beautiful concept of keeping an account with one’s partner is trying to play a fast one on each other’s intelligence, such will no doubt spell doom. You need to be truthful with whatever step you want to take, such will make for stability and growth of such account
You can engage the services of financial experts if you are still in doubt as to how to go about a joint account, it helps. They are in a better position to advise on the best steps to take and how to maintain the account for a longer period. Marriage Counselors can also be consulted, they can also be of help