Legal Question in Wills and Trusts in Illinois
Under Ownership of Account, my name appears on my mother's bank account with this specific wording: "JOINT - WITH SURVIVORSHIP (and not as tenants in common)". We are both Coles County, Illinois residents.
My question is: in the event of my mother's death, will the value of this account be subject to the powers of the Executor of her Will, or does the value in the account immediately pass to me in the event of her death?
Asked on 2/10/11, 12:25 pm
1 Answer from Attorneys
Naheed Amdani
Law Offices of Naheed A. Amdani, P.C.
If the account is a joint tenancy account, with rights of survivorship, then if your mother pre-deceases you, the account is yours. The account is not subject to probate.
Answered on 2/10/11, 12:40 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
