Q: My mom died and left her bank accounts pay on death to one child. Is she suppose to let us know the amounts in those ac?
A: The beneficiary of a pay on death account does not need to let "us" know what is in the account. The executor of an estate is entitled to know in the event that the estate cannot pay its taxes, costs and debts because, in that event, the pay on death account is liable. This information would be available from the financial institution.
Tammy L. Wincott agrees with this answer
A: If she also left instructions to have this person act as executor and pay out according to her wishes, they may need to disclose; however, if the person specifically listed a beneficiary to receive funds at the time of death, I don't believe there is any requirement to tell other relatives how much it was.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
