Q: What happens to individual bank account? When the person passes away with no benefactors on the account and no will.
The person is married and has children, lives in New York..
My wife’s mother passed away. We are not sure if her bank account had a beneficiary or did she have a will.
Her mother is legal married..
would happen to her bank account now that she is deceased?
What it automatically go to her father? Or does state take possession and we have to fight it in court how does this work?
It was not a joint account
A: Depending on the size of the account the wife needs to file an administration proceeding of some type.
Anthony M. Avery agrees with this answer
A: Banks very, very often keep the money of their decedent depositors. Relatives have to go to great lengths legally to withdraw those monies, or the Banks keep them. Unclaimed Property laws are rarely enforced.
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