Legal Question in Wills and Trusts in Illinois

Joint Account with Rights of Survivorship

I am in Illinois. I was put on my father's joint accounts(not for convience) and later my father became ill and I removed the money in the joint account. While seeking guardianship in probate court the judge ordered me to put the funds back into the accounts. I only did what my brother would have wanted me to do. I believe I did nothing wrong especilly when looking at 'Murgic v. Granite City Trust & Savings Bank, 31 Ill. 2d 587 (1964)' and that the function of a joint account agreement is to immediately share ownership. If the owner of an account intends to make a present transfer of a future interest in the account, e.g., the remainder of the account upon the owner's death, that is something for which an ordinary joint account agreement does not provide. Was I within my rights to do what I did? Please don't just tell me I'm morally wrong.


Asked on 10/09/08, 10:58 pm

1 Answer from Attorneys
Jeffrey R. Gottlieb Law Offices of Jeffrey R. Gottlieb, LLC

Re: Joint Account with Rights of Survivorship

You were within rights but the court was also within its discretion to determine that the facts showed a different intent. I'm not exactly sure what your question is at this point. Is there still an issue?

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Answered on 10/10/08, 10:33 am


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