if a sibling passes away, has funds left in a bank account with an individual listed as "contact only", does this individual have rights to the funds over any living siblings of the deceased. no will involved.
1 Answer from Attorneys
No. Only a person listed as a joint tenant, or "pay on death" designee, or specifically designated as a beneficiary would have claim to the funds. Otherwise the money becomes part of the estate of the decedent to be distributed according to the rules of intestate succession, which would be first to a spouse and children, then if none to any living parents, and if none then to siblings.