Legal Question in Wills and Trusts in Pennsylvania

Re: Will vs joint ownership

Dear Sir/Madam:

As a matter of law, the surviving joint owner of a bank account does, in fact, become the owner of the account. This does not mean that there is "legally" no Will. The Decedent's Will is still perfectly valid, but if there are no assets that the Decedent owned in his/her name alone, then there is simply nothing that would pass through the Will.

While you have no legal obligation to share the proceeds of the joint bank account with anyone else, morally you might decide to do so in order to carryout the intent or wishes of the Decedent. This will be up to you. Good luck.

Lloyd A. Welling, Esq.

http://www.americanwillsandestates.com