Legal Question in Banking Law in New York
Will vs. Joint Bank Account
When my father died, he willed all of his assets to me, but he wasn�t specific.
One of the assets was a bank account he shared jointly with his sister. However, when the time came to close the account, the aunt claimed that most of the money was hers, giving me a mere 5% of what was in there.
Legally, because this is a joint account, does the aunt really have the right to claim all of the money because the bank account is in her name? If I pursued this legally, would I have a chance of winning?
1 Answer from Attorneys
Re: Will vs. Joint Bank Account
When your father passed away, the bank should have put 50% of the acount balance on hold; there is a legal presumption that a joint bank account is owned 50/50 by each owner. If your aunt can show otherwise, then that presumption will be overcome.
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