Newport, KY asked in Banking and Estate Planning for Ohio

Q: My mother and I had Joint bank accounts. And in the will it states for her estate to be devided 50/50

My sister was named executor over the will. I was wondering if the joint bank accounts my mother and I had Together would have to go through the probate or would be considered part of the will.

My mother always helped her sister out with finances and my sister is trying to take out that account as well even though it was a joint account between my mother and I.

Related Topics:
2 Lawyer Answers
C. Lawrence Huddleston III
C. Lawrence Huddleston III
Answered
  • Estate Planning Lawyer
  • Columbus, OH
  • Licensed in Ohio

A: If the account was "Joint with Rights of Survivorship" as most "joint" accounts are, the account goes directly to you. It does not go through probate and therefore is not controlled by the Will. All you need to do is take an original death certificate and a photo ID to a bank branch and they will convert the account into your name. The only caveat is that if your mother was on Medicaid (not Medicare), it is possible the state could come after the account if there are not enough other assets to reimburse the Medicaid payments.

Mary Ellen Leslie Esq. agrees with this answer

Mary Ellen Leslie Esq.
Mary Ellen Leslie Esq.
PREMIUM
Answered
  • Estate Planning Lawyer
  • New Albany, OH
  • Licensed in Ohio

A: A joint account is not considered to be an estate asset. The balance in the account would be payable to the joint holder.

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.