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The video tutorial discusses whether individuals should have their children named as joint owners on their accounts. The speaker strongly advises against this practice, citing three reasons. Firstly, it can lead to complications in the event of a divorce. Secondly, it exposes the account to potential creditors of the child. Lastly, it can complicate the estate planning process. Instead, the speaker recommends granting access through a power of attorney. Please watch the video on the three most important documents needed for more information on this topic.
