Legal Question in Civil Litigation in Montana

Responsibility of Joint Tenants in Bank Accounts

My mother wants to open a bank account with my brother and me as joint tenants. Question: ''If she has debts and does not have funds adquate to pay her bills, will my brother or I be liable?'' Also Question: ''If she dies, will we split the funds equally by simply displaying her death certificate?''


Asked on 5/24/02, 5:31 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Responsibility of Joint Tenants in Bank Accounts

There is always a chance that the bank will come back on you if there is an overdraft on the account.

A better device would be for your mother to create a "POD" account [payable on death] naming her two sons as joint tenants. That way you inherit whatever is in the account upon her death.

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Answered on 5/24/02, 6:48 pm


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