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Generally, a joint account is a non-probate asset that passes to the surviving co-owner bypassing probate. Generally, it is not considered part of a decedent's estate.
If an account is described as joint but with no survivorship rights then the funds would become part of the primary holder's estate rather than automatically passing to the other joint owner. That type of account is generally set up for purposes of convenience to allow one person to pay bills and do the banking for another person.
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You and your father have a joint savings account separated by 'or'. When he dies does the the money go to probate?
No. When one joint owner of an account dies the account will become the sole property of the surviving owner with no need of probate.
I have a joint account with my mother. Upon her death do I have to go to probate?
Full ownership of that account will pass to you upon your mother's death without any need for probate.
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.
If you had a joint checking account with your deceased mother will you have to put it an estate account?
Yes, typically when one of the joint account holders passes away, the joint account automatically transfers to the surviving account holder. However, it is advisable to consult with a legal professional to determine if any specific actions need to be taken, such as transferring the funds to an estate account.
What is Joint account with survivorship?
That means two or more people share an account and when one dies the other or others automatically acquire the share of the decedent. The last one living will become the sole owner of the account. A joint account does not need to pass through probate.
My mother passed recently and had no living will.I am her only child. Do I have to go through probate to access funds in her bank account?
Yes, this must go through probate. The only exception is if you are already a joint account holder or if she had an "in the event of death" beneficiary on the account with your name on it.
Why do you need to probate an estate that you are the state appointed guardian as well as the only daughter The estate is only cash with joint ownership on the bank account?
First, you are no longer a guardian since the ward has died. If the only asset is the joint bank account then there are no probate assets and the estate does not need to be probated. If there is any other property that was solely owned by the decedent or if there are any debts then you should consult with an attorney who specializes in probate.
Is there a need for probate if the wife is sole beneficiary under a will and the only property is a joint bank account with right of survivorship and miscellaneous personal effects?
Probably not, but your local probate attorney will know for sure.
Does using and or or' in the wording of the ownership of bank account make a difference when one owner dies?
Generally, either word will create a joint account. The balance of the account passes to the survivor and bypasses probate.
Can an executor or girlfriend take money out of a decedent's checking account?
It depends on whether the executor has been appointed by the court and if the account was a joint account with the decedent and his partner.If the executor has been duly appointed they can access accounts solely owned by the decedent. That's their job.If the account is a joint account, it isn't a probate asset and the executor has no control over it. It belongs to the surviving joint owner.
Cashing a check made to estate of a brother-in-law Calif?
First, if the decedent had a joint bank account with another party the joint owner should ask the bank if it will allow the check to be deposited in that account. If that is not possible then you will need to obtain some authority from the probate court to cash the check as the administrator of the estate. You should speak to a clerk at the probate court to determine if there is a shortened, small estate probate procedure that can be used to obtain the authority to cash the check.
Bank savings account holder with deceased father will not in probate bank is saying paperwork not followed through on their end been doing transactions do you have a right to this account?
If the account was a joint account in your name and your father's name and he is now deceased then you are the owner of the account. ==Additional Answer== Probate is needed if you are not a holder of the account with your father, as you seemed to state in your question, and the account is in your father's name alone. Whoever files to open up probate will get a document called letters testamentary, and that person takes a certified copy of the letters testamentary to the bank and the bank will then issue a check to be distributed to the legal heirs.
