Legal Question in Wills and Trusts in California
If I am a beneficiary on a bank account do I have to wait to spend the money until probate closes?
Asked on 1/31/11, 8:58 am
1 Answer from Attorneys
Jonathan Reed
Reed & Mansfield
If the bank account is payable on death to you or a joint account with you, it doesn't go thru probate and it is yours upon proof of the owner's death. If it is not a joint or payable on death bank account it has to go thru probate and you can't get it until either probate closes or there is a court order for a partial distribution of assets that include this account.
Answered on 1/31/11, 9:10 pm