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What to do when you are New Jersey Surviving spouse and there is a joint bank account?
Donnajeansaintjames
If you are the surviving spouse, you are considered what is called a "Class A" beneficiary, meaning there is no inheritance tax on the property you inherit or take by right of survivorship. This means that the bank does not have to hold on to half the date of death balance until all inheritance taxes are paid. To get that account released you need to get a certified copy of the death certificate and go to the bank. The bank will have copies of NJ Inheritance Tax Form L-8 for you to sign. This is an affidavit that states, among other things, that you are the surviving spouse, a Class A beneficiary and the surviving party to the account. The bank will release the money to you or create a new account with just your name on it as you prefer.
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In Alabama is a surviving spouse responsible for the credit card debt of their deceased spouse?
Alabama is not a community property state, the surviving spouse is not responsible for creditor debt unless he or she was a joint account holder.
How does a surviving spouse cash a deceased spouse's stock check?
You should speak to a bank representative to determine if the bank will allow the check to be deposited in your joint account.
If the spouse dies does the money in the joint checking account go to the surviving spouse or to the spouse and surviving children of the decedent?
In community property states, absent a will or beneficiary designation different(and even this might not be enforceable if the wife did not sign). Everything goes to the surviving spouse. Hopefully she likes the children.I am not an attorney but I did go to a Holiday Inn Express today.
Is it illegal to remove your spouse from joint checking account?
No. it is not mandatory to have a joint account with your spouse. If you feel, you no longer wish to have your spouse in your joint account, you can let them know and then contact the bank to remove their name from the accounts joint holders list.
In Florida what should the surviving spouse do about the credit card debt of a deceased spouse that was sent to collections if there was no estate?
If the account was joint then the surviving spouse is responsible for the debt. If the account was held solely by the deceased spouse the surviving spouse is NOT responsible for the debt and is not legally obligated to repay such nor to correspond with the creditor or collector. If the surviving spouse so chooses he or she may inform the collector that the account holder is deceased and also inform the collector that they should "cease and desist" all contact with the family. Florida is not a community property state. Marital property is generally treated as Tenancy By The Entirety, which makes it immune to creditor action if only one spouse is the debtor.
Is bank account joint if spouse not named on account?
No
Will the surviving spouse's credit rating be affected by the repossession of the deceased spouse's car?
AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.
Your parents and you had a joint bank account they died who does the money belong to?
A joint bank account belongs to the surviving owner.
How can you stop a joint account holder accessing the deceased persons funds?
You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.You can't. The funds are the property of the surviving joint owner.
Is a spouse entitled to a bank account if not on the account?
A spouse may open as many bank accounts as they wish. If, on the other hand, you are referring to a joint account; then there will have to be paperwork filled out adding the spouse to the account and thus creating a joint account. This requires the agreement and signature of the original account holder.
If the credit card company sues a person that's dead is the family responsible for the debt?
If the account was not joint, and the person was either not married or was married and did not live in a community property state, the debt becomes part of the estate and is subject to state probate procedures. Joint account debt becomes the responsibility of the surviving account holder. Debt incurred by a married couple that lived in a community property state, regardless of a joint or single account, becomes the responsibility of the surviving spouse.
What happens if you have a joint account and one of the parties dies?
Full ownership of a joint account passes to the surviving joint owner unless the joint account was set up for purposes of convenience only and the account is otherwise devised in a will.
