Important money rule: No proof means it’s not yours

Even if it is a deal with relatives or friends, written words count a lot and would decide whether the money is yours. PHOTO: ISTOCKPHOTO
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If you have a stake in a bank account that holds tens of million dollars, you would probably insist on being a joint account holder or have documents to prove your right to the money.

Yet in a recent dispute, a man who claimed a quarter share of the family’s multimillion-dollar fund did nothing to put his ownership in writing.

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