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Sarah Jane Boon writes for the Financial Times’ Your Questions column on joint bank accounts

When moving in with a partner for the first time there is lots to plan for and consider. When taking this next step, many consider setting up a joint bank account so it is easier to manage their financial affairs. 

Despite this being a common practical step, especially if an individual plans to have children or purchase a property with their partner, it is important to be aware of the potential financial risks. For example, overdrafts, debts and dividing assets on divorce. 

Sarah Jane Boon, Family Partner, answers a Financial Times reader's question on what people should consider when opening a joint bank account with their partner for the first time.

Read her response in the Financial Times here (subscription required). 

 

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