Legal Question in Wills and Trusts in Illinois
death and bank acccount
wife died. she had a bank account in her name only. how do I obtain the funds?
Asked on 5/21/08, 3:20 pm
2 Answers from Attorneys
Naheed Amdani
Law Offices of Naheed A. Amdani, P.C.
Re: death and bank acccount
Also, you should check and see if your wife had designated a beneficiary on the account. If she did, the money in her account will pass to her designated beneficiary.
Answered on 5/22/08, 7:51 pm
Jeffrey R. Gottlieb
Law Offices of Jeffrey R. Gottlieb, LLC
Re: death and bank acccount
Your wife's property passes under the terms of her Will, or if no Will, then by state law to her heirs. If the total amount is under $100,000, a small estate affidavit may be able to be used; if over $100,000 then her estate must go through probate.
Answered on 5/21/08, 3:33 pm
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