Can a joint bank account be considered as part of an estate?

Question

My second husband passed away in November.  He had no assets (car, house in my name only), but we had a joint checking account.  Is it necessary to set up an estate for him?

Georges Shers · Answer

No. Since it is a joint account it passes to you.

Frances Headley · Answer

So long as the joint account was a true joint tenancy with the account going to the survivor then no probate is necessary. Nor would a probate be necessary, even if the joint account had no automatic provisions, if the his share of the account was worth less than $150,000 .

Edwin K. Niles · Answer

No, the account is yours.

Norman Green · Answer

The account is yours.  No probate needed.

Christine Socrates · Answer

A joint checking account does not need to be probated, the survivor should be able to transfer the account to their name alone.  No estate is necessary if that is the only asset.

Brian Haggerty · Answer

No. Show his death certificate to the bank.

Victor Waid · Answer

No. You survive to the account balance; you can close the account by writing a check to yourself for the balance in the account and depositing into a new account.

Craig Donais · Answer

A joint account is not part of an estate.  By definition, the account passes to the survivor of the two owners.

James Frederick · Answer

No. Joint assets pass to the surviving joint tenant, upon death.

Dara J. Goldsmith · Answer

No.  But you may want to speak with an estate attorney to address liability for bill.  Most will offer a free or discounted consolation.

Thomas Edward Gates · Answer

No, you are deemed co-tenants of the account and the one surviving now has sole ownership.

Mark T. Peters · Answer

It doesn't sound like it.

Michele Ungvarsky · Answer

A joint account normally passes to the surviving owner without probate. Usually the bank only requires a death certificate and they will do the paperwork to transfer the account to your name.

Christine James · Answer

Joint accounts pass to the survivor on death.  If truly a joint account you do not need to open probate.

James Oberholtzer · Answer

No, you are the sole owner of the account after he passes.  You do not have to go to court.

Randall Romei · Answer

A joint account with rights of survivorship would become the assets of the survivor upon the death of the other joint tenant.  Such an asset would not be part of an estate unless it could be shown that the Joint Tenancy nature of the was merely for convenience purposes and not intended to confer ownership.  Since you are the spouse and the assets in the account were undoubtedly marital assets such a proof would be very difficult.

James Maguire · Answer

If the account is an "or" account, you won't have to do anything. You will   have full access.

Richard Keyes · Answer

In Missouri, a joint account by operation of law goes to the survivor. There is no need to open up an estate.

John Brennan · Answer

Not on those facts. See an attorney.

Daniel Edelman · Answer

If the account was held in joint tenancy with right of survivorship, no, as the contents pass automatically to the survivor.

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