I have made my wife Joint account holder and 100% beneficiary – Is that ok ?

POSTED BY somayajulu ON January 25, 2015 9:01 am NO COMMENTS

I have joint accounts with my wife for both savings bank and term deposits.I have also given nominations to all my deposits. I also have made a will and mentioned my wife as the sole receiver for my entire deposits and that my children will come into possession only after the death of my wife. In other words, my wife will enjoy the whole deposits and she will have full control over them and the residuals after the death of my wife can be claimed by m children. Are we both protected and are they in order. Kindly advise.

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