Will she have to share the money in the cd with her brother when he dies?

UPDATED: May 17, 2009

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Will she have to share the money in the cd with her brother when he dies?

My husband’s father has a large cd. He has no will and will not get one even though he is 89 years old. He did, however, add my husband’s sister’s name to the cd.

Asked on May 17, 2009 under Estate Planning, Texas


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

When people say "add X's name" to the CD it can mean a variety of things.

If the CD is now held in joint tenancy between father and sister, when one of the joint tenants dies the assets pass to the survivor by operation of law. She'd get it all.

If the sister was designated as beneficiary of the CD in her individual capacity then she'd get it all.

Whether she would share any with her siblings is a matter of morality, not law, but it would be hers as a matter of law.

If she was added as beneficiary but in trust for her and her siblings, then she'd have to share it.

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