Is there any benefit to having a joint account with your spouse other than transparency?

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Estate reasons.

If you die, as a joint owner, they can access the funds immediately. They could alternatively access funds if you list them as a beneficiary on your individual account, too, but it takes longer and they’d need a death certificate and paperwork first—things no one wants to deal with in the middle of grieving and a funeral.

Also, a joint account that’s community property could get a 100% step-up in cost basis for each death. A step-up saves money on future capital gains taxes. An individual account only gets a step-up if that person dies, so the spouses’s individual accounts don’t get a step-up.

In most states, any income/assets accumulated during the marriage are presumed to be 50/50, and they would be split that way during a divorce, too. Keeping accounts separate wouldn’t make any difference when it comes to splitting things. Might as well just combine and keep joint accounts (excluding any separate property you acquired before the marriage).

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