You want to protect your parents from scammers, fraud and thieves.  One way you think to do that is by adding your name to their bank account so that you can keep watch over their money and finances.  However, this is likely a bad idea.

Creditors Can Seize Money: If you, the adult child, owes debts, the money in the account can be used by creditor to satisfy those debts.  Why?  Your name is on the bank account, which in essence makes the money in that account partly yours.  So by adding an adult child to their account, the parent exposes him or herself to the possibility of losing their money to the adult child creditor.

Money Entangled in Divorce Proceedings:  If you, adult child, gets divorced, any money in a joint account could be listed as part of the adult child’s divorce proceedings.  Why?  Your name is on the bank account, which makes the money in that account partly yours.

Could Impact College Financial Aid:   Adult child must list the bank account assets, when filing application for their own children college financial aid.  Why?  Your name is on the bank account, which makes the money in that account an asset to you; and therefore, will need to be reported.

Could Impact Your Income Taxes: Adult child may need to report any interest income earned from the bank account.  Interest may need to be reported on your annual tax filing.

Siblings Could be Disinherited: Upon the death of a parent, the adult child whose name is on the bank account will receive the money in that account.  Thereby, other siblings could find themselves disinherited, because the money went to the adult child whose name was on the account.