Legal Question in Wills and Trusts in Massachusetts

If a person dies and has money in the bank how can a family get to it

Asked on 12/21/16, 6:49 am

1 Answer from Attorneys

Alan Pransky Law Office of Alan J. Pransky

This seems like a simple question but the answer can be complicated. Depending on how much money is in the bank and what other assets were owned by the deceased there are three possible answer. If there are no assets except the money in the bank, the family may be able to fill out forms for the bank and get access to the money. This can happen if there is a small amount of money in the bank and the bank agrees to this procedure. If the total amount of assets are less than $25,000.00 and there is no real estate then the family can file a voluntary administration which is a simplified probate process. If the amount is over $25,000.00 or real estate was owned, then the family must file an administration in probate court. There are two ways of doing this: informal administration and formal administration.

You should consult a lawyer to determine which of these methods are best for you.

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Answered on 12/22/16, 10:46 am

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