Legal Question in Wills and Trusts in Illinois

I'm assuming that grandma lived in Illinois. If the accounts were held in "joint tenancy" with your wife, then the general rule and presumption is that it belongs all to the surviving joint tenant, your wife, outside of the will and estate. However, depending on the circumstances, an estate can attempt bring the accounts into the estate by arguing that the account was held with your wife for convenience purposes only (e.g. to help with paying bills) and that grandma did not intend to make a gift at her death. In that case, it would come down to the particular facts and circumstances.

If you or your wife would like to discuss this further, feel free to give me a call, there would be no charge for an initial conversation.

Joint tenancy property belongs to the surviving joint tenant. It is not controlled by the will.

If the beneficiaries under the will want to get the accounts, they have to file a lawsuit that essentially has the joint tenancy set aside. If your wife's grandmother owned the accounts solely in her own name then the accounts would pass under her will.

There are various grounds for such a lawsuit including "convenience," undue influence, tortious interferrence with an inheritance, etc. A detailed history must be taken in order to determine whether your wife is vulnerable to any of these theories.

Please feel free to visit my website at www.legacylaws.com. If you wish I am available for a free consultation.

Be well.