Legal Question in Banking Law in Indiana

i had a joint bank account with my mother.when she died,i went to take her name off of the bank accounts.i was told they have been flagged and i had to fill out a form and give them her death certificate to send into the county.which should take only a couple of days.now,i have never had to do any of this before,so,i`m learning as i go.it`s just my mother thought with my name on the bank accounts with her,i would get the money without problems.is this part of the progress?thanks,linda


Asked on 12/17/11, 1:38 pm

1 Answer from Attorneys
terrence rubino rubino ruman crosmer smith and sersic

each bank has an employee review the obits and if one of the account holders die they have to freeze the account. this is because there may be state inheritance tax due. the bank requires you to get a release or "consent" from the county auditor to release the funds to the joint owner. it is very common. it is the reason for the common belief of people to rush to the bank and withdraw the money. everything should be fine. good luck.

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Answered on 12/19/11, 2:30 pm


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