Q: File will if the only asset is a joint bank account?
Unfortunately my grandmother just passed and I’m helping my mother in getting everything organized. My grandmother has a will requesting her assets be split between her 3 children. The only assets she had when she passed is a checking account that my mom is joint owner on and some personal items that are not worth much as she lived in an assisted care facility.
My understanding is that a joint bank account supersedes a will, however, my mom still plans to carry out my grandmother’s will and split the remaining balance in the bank account per her wishes. Do we still need to file the will with the county and if so will that trigger probate even though my grandmother had no assets that were in her own individual name? Thank you for any advice.
A: I am very sorry for your loss on the passing of your grandmother, please accept my condolences for you and your family at this sad and difficult time. The answer to your question is generally no, if there are no assets in your grandmother's name alone, then no probate will be necessary, probate is a choice, there is no obligation ever to undertake a probate as that can always fall to any interested party. The only requirement is that you submit the Will to the clerk of the court in the county where your grandmother was a resident, but no probate is commenced or required as a result of this action. While Florida Statue states that the Will must be submitted to clerk within 10 days, no one ever hods you to this timeline. You are also correct that joint ownership supersedes what the Will states. Depending on the sum in the account, your mom may need to complete a gift tax form, (no tax consequence usually in most instances, but a paperwork tracking type scenario, check with your tax preparer). The only other area that is usually of concern is if there is a surviving spouse and or there is Homestead.
Marc J. Soss and Terrence H Thorgaard agree with this answer
2 users found this answer helpful
A: Putting the will on deposit with the clerk of court does not start a probate proceeding. It is just a means to safekeep the will in case an estate needs to be opened in the future.
1 user found this answer helpful
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.
