Q: If an executor is on a bank account does that make the money theirs or does that money get considered in the will?
The will states any money in the bank or deposits on hold shall be divided.
A: "on the bank account" is a bit vague. If the person named as executor was a beneficiary or a joint owner of the account, then that money is theirs, it's not subject to probate or the will, and they don't have any obligation to share it. If the executor has a bank account titled to the estate, then that money would have to be distributed under the will through the probate process.
Michael M Marques agrees with this answer
A: The issue here is whether the "executor on the bank account" is named as the beneficiary or a co-owner of the account. Bank accounts can have more than one owner and / or can be named in trust for (ITF) another individual, the beneficiary. If the executor also happens to be the co-owner of the account of the named beneficiary of the account, then the executor would receive the full value of the account, bypassing probate or any provisions in the decedent's will. The important question is to inquire as to how exactly is the bank account titled?
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