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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.

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โˆ™ 2005-11-13 02:22:09
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โˆ™ 2020-05-07 16:17:48

Will they freeze the account

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Q: 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?
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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 In this case there is no will can they do anything?

The daughter now owns the bank account and everything in it.


If your name is on a checking account with someone else and she passes what happens to the balance on the checking account?

It depends on your relationship to the deceased and if there was a will.


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 Can anyone else pull money from that account?

Ifvyou read the Will you will see who are the beneficiaries. When probate is granted the beneficiaries will be entitled to a share of the mother's account , depending on the agreed split in the account with the daughter. You should get some simple legal advice or read up in a good law book or thw web.


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Whose name was on the account? If it was a joint account, then the surviving owners of the account "inherit" the portion contributed by the deceased spouse. If only the name of the deceased was on the account, and it is not a community property state, then the entire account belongs to the estate and will be distributed according to probate rules of the state.


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What happens to a checking account with two signers when the funds are Social Security income belonging to the mother and the daughter files bankruptcy?

All Social Security Benefits are exempt from bankruptcy proceedings. If the daughter has no monies in the account then the account will not be a part of the BK. However if funds were commingled there could possibly be a problem with determining ownership amounts.


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In some states the money will go the estate of the deceased winner.


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What happens to a joint bank account after someone dies and the second holder his wife to be was not yet put in his will but his sister was?

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dooo