Q: MY GRANDMOTHER DIED IF SHE HAD JOINT STOCK

A: Typically, if the stock was listed as "Joint Tenants" or "Joint Owners" or "Joint with Right of Survivorship", then the joint owner inherits the stock. If it was listed as "Tenants-in-Common" (which would be rare) and there were no payable on death beneficiaries named in the records of the financial institution, then generally half of the stock goes into your grandmother's Estate and then the Will (if it is admitted for probate by the Court) controls who inherits that half, and the other half goes to the other person named on the stocks. However, under NJ law, if it can be shown that the only reason the other person was listed on the account was for convenience, and that your grandmother did not intend for the other person on the account to inherit the stock, then all of the stock goes into the Estate and the Will (again assuming the Will was admitted for probate by the Court) controls who inherits the stock.

I stress that just because there was a Will, the Will does not automatically control the disposition of all of the assets. Beneficiary designation forms or assets titled as joint with right of surviorship or joint tenants controls the disposition of the asset, not the Will. In addition, the Will is not effective unless the Will is properly admitted for probate by the Court in the county where your grandmother resided at the time if her death.

This information is general in nature and there may be other factors that would result in a different outcome. In addition, this is information assumes that your grandmother was a resident of NJ when she died. If she died in another State, then you would need to check the laws in that State. You may want to consider a consultation with an attorney that practices in the State of your grandmother's last residence.