Legal Question in Wills and Trusts in Georgia

I am the executor of my mother's will. At the time of her death the bank account & CDs were jointly in both our names. When disturbing the assets (will stated assets were to be distributed equally) is only 50% of the bank account & CDs considered in the distribution? I. E. Half of the bank account & CDs are already mine, since they were jointly held accounts.

The only other assets were a home (in a living trust left to myself & a sibling), a vehicle & $22,000 remaining from the life insurance policy. The home had a $45,000+ remaining mortgage with $35,000 in equity. We agreed that I would purchase the home; unfortunately it was a verbal agreement. My sibling wanted the vehicle, valued at $18,000 with a $15,000 balance, which I paid off. I also gave another $20,000. The will has already been through probate. However, my sibling doesn't want to sign the home over to me now. I have records of all of the money disbursed, cash given & vehicle payoff. What do I do now?


Asked on 11/28/14, 3:02 pm

1 Answer from Attorneys
Rachel Hunter

You ask this same question again. Asking with more details does not change the answer. Again, jointly held bank accounts or cd's do not become part of the estate at all so whatever the will says about them is irrelevant. Money in those accounts are passed to the survivor automatically. Insurance proceeds are not part of the estate if there is a named designated beneficiary. Those assets pass to that beneficiary. If there is no beneficiary, then they are deposited into the estate bank account and are distributed as per the will (if specified) or the residue clause. If there is no residue clause then to the heirs under the intestacy law.

Now you state there is a living trust. Then the trust needs reviewed to see who gets what. If the house is in the name of two or more people then they both own the house. If one sibling wants to buy out the other and the other refuses then you need to do what is called a partition action. You may need a real estate litigation attorney for that. You really really need to sit down with a probate attorney because it sounds like you have messed this up by making distributions.

Heirs or beneficiaries inherit items subject to existing liens. So if a car has a note on it, the beneficiary can inherit the car but takes subject to the lien. Same for other liened items unless the will or trust directed this item to pass free and clear.

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Answered on 11/30/14, 8:47 pm


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