<prompt> Human: Weird thing happened today. My grandfather, in his 80s, requested my DOB and SS to give to relative that works at a bank who manages part of his investment stream. Reason he gave is that if he were to die, he would want me and my aunt my father is not included in this, long story to be beneficiaries of an account that is specifically not listed in his my grandfathers will. Its an account hes had prior to his current marriage of nearly 20 years; I should also mention that his current wife is the sole executor of the will.Red flags, right? Specifically, Im concerned about the following: If it were found out, could someone sue me later to go after this money his wife, my dad, any other relatives? Am I required to disclose this information to someone? Is this legal? Why does the bank need my DOB and SS? Couldnt I be listed as a beneficiary without this information? Why isnt he listing this in the will other than obvious, not wanting current wife and her children to get this? It seems like there are tax implications to this scheme.I feel like I dont have a great grasp on what to do. Please help!EDIT: typo in titleEDIT 2: thanks for all the help! Will make sure to provide info!  <response>: Its good that you have red flags over this. As Mad Eye Moody would say constant vigilance is required for defeating the Dark Lord and Identity Theft.This may, however, be legitimate. The first thing I would do is ask your grandmother what the name of the bank and person hes working with and if he feels comfortable showing you a bank statement to verify this is an account.If that part is verified you would be placed on the account as TOD which means transferred on death which means upon death you would become the account holder.This is actually quite common - myself included - to pass money and items outside of probate. Without this TOD ability the Court and lawyers have to get involved and there is a ton of legal fees involved.The Bank, of course, has to have your SS and DOB for its mandatory and regulatory reporting. Talk with your grandpa and the bank and verify everything first though.But, this is a common way for anyone to pass assets outside of probate in an efficient and cost effective manner.From a tax standpoint this could be characterized a couple of ways. You would not bear any liability for the tax while he owns the account. And regarding the beneficiary aspect, that is less efficient as it would likely still pass through probate or require lawyers to verify the transaction. You become to owner upon death. 