If I am jointly on a bank account and the other person dies, do I get the money in the bank?
Full Question:
If I am part owner of a checking account, and the other owner expires, am I allowed to withdraw the entire balance, or does the heirs inherit the whole amount?
01/31/2007 |
Category: Wills and Es... ยป Probate |
State: Louisiana |
#914
Answer:
Simply being a joint account is not enough to exclude the funds from the
probate estate -- the accounts must also be held with right of survivorship,
either expressly or implied under law. The signature card you and the other
account holder signed should tell you whether there are survivorship rights
to the money.