QUESTION
If the will states that there are two equal shares to my mother’s bank account is in joint names can I take half out without my sister’s consent?
Asked on Mar 10th, 2014 on Estate Planning - California
More details to this question:
My mom past. My sister is ex of the will. It states that two equal shares her bank account is in joint names can I take half out without her consent? Thanks.
11 ANSWERS
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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If the account is in her estate, no. If it was a joint account held in all three names, then it is not in the estate, and any of the joint owners can withdraw money. Up to all of it.
Answered on Mar 12th, 2014 at 9:30 PM
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Without seeing the Will and account titling it is impossible to advise you.
Answered on Mar 12th, 2014 at 6:25 PM
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Yes if it is truly a joint account with your name on it. Confirm that with the bank before you take the money.
Answered on Mar 12th, 2014 at 6:24 PM
Edwin K. Niles
Joint with whom? As joint tenants or as tenants in common? Generally speaking, title to an account is controlling over a will. In other words, if it was in the names of you and Mom, it would go to you. It would then be up to you to share with sis, or to keep it and be forever her enemy.
Answered on Mar 12th, 2014 at 6:24 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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If you were a joint owner in the account prior to her death, generally yes.
Answered on Mar 12th, 2014 at 6:24 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Not having the will to review or the bank account as to how the recipients are listed, suggest you seek the counsel of a probate lawyer.
Answered on Mar 12th, 2014 at 6:24 PM
It will depend on who the account was in joint tenancy with. For more detailed advice, consult with an attorney specializing in estate matters.
Answered on Mar 12th, 2014 at 6:24 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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What the Will says does not matter, if the account is truly joint. If it is not a joint asset, it cannot be made one without going through probate. In other words, if the account was in your mother's name alone, it is now part of her estate and your sister is in control of it. If it was a joint account, then your sister has no legal control of it as Personal Representative, because her authority extends only to probate assets. If there is something else going on, then more information is needed. You may want to consult with a lawyer on this before taking any further action.
Answered on Mar 12th, 2014 at 6:24 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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The joint bank account is not affected by the will. If the will is in probate, one of the important functions of probate is to pay the decedent's debts and taxes. If you believe that the joint bank account (you don't say whether it's joint, your mother and you, or your mother, your sister and you) should be treated as part of your mother's estate, then you want to be sure that all her debts and taxes are paid before taking any amount out of the estate.
Answered on Mar 12th, 2014 at 6:24 PM
The short answer is no. The executor of an estate has a legal obligation to collect all of the decedent's assets, pay off all of the bills and taxes, and then distribute the remaining assets to the heirs. If there are not enough unbequeathed assets available to pay off all of the expenses, the executor must use the bequeathed assets. This would include your mother's checking account. Wait until the estate is settled and see what, if anything, is left in the bank account.
Answered on Mar 12th, 2014 at 6:24 PM
Thomas Edward Gates
No, she is the executor and only she can make the distribution. Not you. In addition, the distribution is only made after all of the creditors have been paid.
Answered on Mar 12th, 2014 at 6:24 PM