PROCEED WITH CAUTION WHEN CONSIDERING ANY JOINT OWNERSHIP OR OBLIGATION

Some people might not like to hear it, but I think it must be said: making yourself responsible for the actions of someone else is dangerous.  Don’t do it unless you either (1) have a contract with the other person, or (2) trust the other person with everything you have.  
What made me think of that?  I saw an article in the Arizona Republic that talked (very superficially) about joint bank accounts, joint credit cards, joint business ownership, and co-signing for a student loan.  If you enter into any of those joint arrangements, you are making yourself responsible for the actions of someone else.  
This is a topic that I have touched on in the past, and will undoubtedly address again in the future.  If you have any of these joint arrangements, it can be an important consideration in estate planning.