Legal Question in Wills and Trusts in Florida
Checkinig account part of trust??
My father recently passed away in June of 2003. Prior to his death, he added my name to his checking accounts. This was done so that I could take care of his bills, both in the event of his being incapacitated OR upon his death. He also had a trust. Upon his death, I was dismayed to learn that the trust lawyer stated that the checking accounts are now ''part of the trust'' and I cannot have access to the monies to pay any part of Dad's bills, etc. My question is this: since my father included me in his checking accounts (specifically to pay bills, etc), wouldn't this take precedence over what is stated in the trust?
3 Answers from Attorneys
Re: Checkinig account part of trust??
Unless it is owned by the trust (in its name)it is not part of it. If the account was joint you can use it.
Re: Checkinig account part of trust??
It depends. It sounds as though the account was joint ONLY so you could take care of bills. In Florida, this is called a "convenience account" and does not entitle you to it. Your father still had full control over it and therefore the right to make it part of the trust.
Re: Checkinig account part of trust??
Marie-Anne Oatley is corect except that it would not be part of the trust. It would be part of the probate estate. Then, since his will probably leaves everything to his trust, it would pass to the trust. So, unless the personal representative of the probate estate makes a claim for it, it is yours.
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