If my brother is listed on my mom’s bank account, does all the money go to him upon her death?
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If my brother is listed on my mom’s bank account, does all the money go to him upon her death?
My mother listed my brother under her bank account to take care of financial orders while she was fighting illness. She has now passed away without a Will. My brother and I are the only next of kin. Who does her cash assets go to?
Asked on August 23, 2019 under Estate Planning, California
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
If your brother is the only other name on your late mother's bank account, then as the remaining owner he is entitled to all of the money in it. The fact is that joint bank account and other such assets (i.e. 401's, TOD's, POD's, etc.) do not become part of a deceased's estate. Accordingly, you have no claim to it.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
If your brother is the only other name on your late mother's bank account, then as the remaining owner he is entitled to all of the money in it. The fact is that joint bank account and other such assets (i.e. 401's, TOD's, POD's, etc.) do not become part of a deceased's estate. Accordingly, you have no claim to it.
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