Bank Accounts and Personal Estates
Bank Accounts and CD's are in both parties names,
Example: "Person-A or Person-B"
when Person-A dies, Person-B can obtain the finances by simply removing Person-A's name from the accounts.
I know this to be true.
My question is:
Are the above accounts Legally considered part of
Person-A's estate. If there are legal actions against the estate of Person-A, can the above accounts be
attached to the estate, or are they seperate.
I am hoping that they are seperate, and any legal
actions against the estate cannot touch the accounts.
PS: Wills do not list the accounts.
1 Answer from Attorneys
Re: Bank Accounts and Personal Estates
Generally speaking, funds in an account belong to
the person who deposited them. It would appear that
if person "A" deposited the funds in the account,
these funds could not escape a judgment simply
because they are in a joint account. The wills
won't make any difference.