My dad died without a Will and I am a co-owner on his bank account. None of the other children are on the acct. do I have to split the money in the acct with the other children?
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Read More Answered By: Jeremy Claridge |
If the account was titled your dad "or" you, that money automatically passes to you. There is no legal obligation to use that money for dad's bills, funeral expenses, or share with your siblings. The real question is whether you want to enrage your siblings. If they know you have this money they will get really angry because they believe it is part of your dad's estate. If your dad has a big enough estate to fight over in court, your siblings will have an argument that the bank account was your percentage of an intestate inheritance. If it is more than you would have gotten under an intestate (without a will) inheritance, you may be precluded from sharing in the other assets your dad had. Your attorney will argue reasons why that money was given to you and is not part of the estate to be distributed to the kids under AZ intestate laws. Sorry about the passing of your dad. Just remember that when it comes to family, is the money really worth the fight and bad feelings? |
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