Legal Question in Wills and Trusts in Georgia
Will
I have a will leaving my husband everything. It is all in our names jointly. If he predeceases me, everything goes to his 2 adult children & my 2 adult children equally. My parents died several years ago leaving me $300,000 which I wish to leave solely to my two children. Everyone is in verbal agreement. My daughter and son are joint owners with me on each account housing the $300.000. Will there be any problem when I die with my children getting this money as I have stated in my will all my worldly goods go to my husband? The will does not mention the money my parents left me.
2 Answers from Attorneys
Re: Will
With $300,000 at stake, see a lawyer. While properly created joint accounts may work around the missing will language, a lawyer will make sure everything is done properly, as verbal understandings won't matter.
Re: Will
A creative lawyer for your husband or his children could make the argument that titling the $300K in joint name was merely for your convenience, and was not intended to pass title, so that it was part of your probate estate. You would need specific language in your will referring to this account, and stating that you intended it to pass on your death to the co-owners.
An even worse scenario would be if the language of the account actually created a tenancy in common rather than a joint tenancy with right of survivorship--this would automatically make it part of your probate estate.
You should have a lawyer review all of this situation, and advise you on how to insure that your intentions are carried out.
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