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Can a Creditor sue remaining owner for balance remaining in Joint Bank Account with Right of Survivorship to cover Health Care debt by deceased other owner?
Wiki User
∙ 12y ago
I must add...Health Care debt was to be covered by Living Trust arrangement and was in litigation at time of other owner's death. Right of Survivorship was not altered prior to owner's death.
Wiki User
∙ 12y ago
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Can a creditor take money from deceased bank account without written permission from executor?
It is possible for it to happen. They would have to have a court order to do so.
If your husband was his deceased father's bank account nominee how do you recover the account funds?
If the named person is not a joint account holder with rights of survivorship the bank account monies will become the property of the probate court and be distributed according to succession law of the state where account holder resided at the time of his or her death.
What happens to a joint bank account when the the primary is the now deceased mother and the joint account holder is a daughter and there is a will. In this case there is no will can they do anything?
Joint accounts generally include the rights to survivorship. This means the funds in the account that belonged to the deceased automatically pass to the other account holder(s). The funds are not subject to probate procedure, nor are they subject to any terms stated in a will. It is possible that an estate tax could be levied on the portion of the account belonging to the deceased, but in most cases the amount would need to be substantial for that to occur.
If you have a joint savings account and the other party on the account dies must the remaining holder of the account place the entire amount into probate?
No. A joint account has the benefit of survivorship. That means if one owner dies the account becomes the sole property of the survivor bypassing probate.
Are you responsible for your deceased father debt if you share a bank account?
A joint bank account or more likely a portion of such might become part of the deceased estate depending upon how the account is held. Most accounts held jointly by family members are done so under the law of rights of survivorship and therefore revert to the living account holder(s) upon the death of the another. In any case, just being a joint account holder does not make the person responsible for the repayment of debt incurred by the deceased.
Is the family allotted money from a deceased account?
It depends. a. If the deceased individual has a legal will, the people mentioned in his will, will be given the money from his account b. If he does not have a legal will, then his legal heirs (spouse and/or children) will be given the money from his account c. If he does not have any spouse or children, then the remaining family members will be given the money
Does the right of survivorship on a bank account override the personal representative's authority of a deceased person's will if the deceased person was jointly named on the bank account?
Answer: In some jurisdictions if there is some proof that the account was made a joint account only for purposes of convenience then the assets in the account would become a part of the estate. Many people leave particular instructions regarding joint accounts in their Wills either stating that the account is to go to the joint owner or that it was only made joint for convenience.
How does a creditor know where your bank is?
can you keep a creditor from finding your account
Can a creditor put an attachment on a joint account in NY?
A creditor can put an attachment on a joint savings or checking account in NY. When an account is held jointly with another individual, the creditor does not know who contributes more to the account and secures the account as an asset.
Can creditors garnish a joint savings account you had with your deceased mother?
Maybe. It depends on how the account is set up and the laws of your state of residency that governs creditor judgment actions. It also would depend on whether or not the amount in the account that was your mother's was probated according to state law.
Would a credit card company reissue a card to a surviving spouse with a low income?
No, a creditor would not issue a card or extend credit on the account of a deceased spouse. The creditor might be willing to issue a card to the surviving spouse based on his or her own financial situation.
If an executor finds that money was removed from the deceased bank account after death by a relative can you request return of money to pay outstanding debts?
Unless it was a joint account, the executor can do so. If it was a joint account, or one with rights of survivorship, there may not be an option. Consult an attorney in your jurisdiction to find out the specific laws that apply in your state or country.
