Legal Question in Wills and Trusts in Indiana
dads bank accounts
My step mother died last year and my dad put my name along with his on his checking account. I have since purchased cd's from this account in both names per his request. He is being contrary about a will or trust. If he dies without either will that money go to me or in the estate? The bank says me.
1 Answer from Attorneys
Re: dads bank accounts
You should take "yes" for an answer. You may owe Indiana inheritance taxes on the amounts exceeding $100,000 but the bank is correct, if your father dies before you do, then you are entitled to the money in the joint account. If you die before your father, then he probably doesn't care what happens to the money; but if he does care, then he needs a will to give direction to the probate court. Good luck.
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