Legal Question in Wills and Trusts in Illinois

If a will indicates a 50 / 50 split among 2 heirs, and there is a JTWROS on a large savings account going to 1 heir, should the will be changed to indicate that this large savings account is excluded from the will? Should other measures be taken to preclude one heir from suing the other to demand 50 / 50 rights to the savings account to prevent a lawsuit from happening?


Asked on 8/17/15, 4:33 pm

2 Answers from Attorneys

Henry Repay Law Offices of Henry Repay

While the joint account designation would pass the account outside the estate, arguments can be made, perhaps that the second person was added for convenience and that joint status was not intended. Even if the case is eventually won, it would come at a cost. So, it may not be a bad idea to note it in your will or, at minimum, leave other information, such as a letter to one or both heirs, a note left with the will, ... There are arguments that extrinsic evidence should not be admitted, but likely the will contest would create the room for the admission of such documents. To be safe, I would lean toward a provision in the will. An attorney can also advise regarding the pros and cons of an in terrorem provision to the will. See your attorney to best consider your situation and avoid a lot of money being spent between the heirs.

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Answered on 8/17/15, 4:56 pm
Virginia Prihoda Law Offices of Virginia Prihoda

Please be aware that an account in JTWROS is already outside the will. The function of a will is to assist in distributing assets that are titled to the decedent or payable to the estate of the decedent. Bank accounts are governed by the account agreement with the bank.

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Answered on 8/18/15, 8:25 am


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