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    SOULO's Avatar
    SOULO Posts: 1, Reputation: 1
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    #1

    Jun 30, 2008, 09:20 PM
    Opening an Account with Minor as Primary & Parent as Secondary
    Is it possible to open an account in my (minor) child's name and me as secondary? And would this shield me from garnishments?

    Thanks
    George_1950's Avatar
    George_1950 Posts: 3,099, Reputation: 236
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    #2

    Jun 30, 2008, 09:47 PM
    Quote Originally Posted by SOULO
    Is it possible to open an account in my (minor) child's name and me as secondary? And would this shield me from garnishments?

    Thanks
    You can have a joint account with your minor child, but it will be no help if you are garnished, unless it is funded with 'exempt' income, i.e. social security, workers comp, etc. The account will not be garnished unless you provide a creditor with the name of the bank.
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