Legal Question in Wills and Trusts in Illinois
On bank account but not in will
My husband is co-owner on his aunt's bank accounts. However, her will names her brother(my husbands dad) and her sister as beneficaries. My husband father is dead and his aunt has stated that she does not want her sister to get her money and would like my husband to be her beneficary. If she dies before her will is changed, is the money in the aunt's bank account the property of my husband and his other aunt?
1 Answer from Attorneys
Re: On bank account but not in will
She may not even have to change her will. It all depends on actual the ownership of the bank account. If it is a joint account with rights of survivorship with your husband then the will does not have to be changed. The account will be come your husband's on her death. If he is simply a deputy [or has her power of attorney] on the account... that is he can sign for her... then until the will is changed he will have no interest.
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