Legal Question in Wills and Trusts in Texas
If my mother passes away and has a CD payable to me am I responsible to pay her debt and hospital bills with that money?
Asked on 4/21/14, 11:02 pm
1 Answer from Attorneys
Arthur Geffen
Arthur H. Geffen, P.C.
If the CD, is a joint tenancy with right of survivorship, ownership passes to you on her death without any encumberance. There is an arcane (in my opinion) to the contrary if it is POD, but most creditors won't be aware of that.
Answered on 4/22/14, 7:52 am
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