Legal Question in Wills and Trusts in Indiana

Re: Who owns CD

The surviving joint owner of a bank account or certificate of deposit is the owner of the account upon the death of the other. This right is subject to the right of the personal representative to allege and prove that the survivor's name was merely placed on the account as a convenience to the decedent and that the decedent did not intend that the funds be protected from his creditors and did not intend that the survivor inherit the money. Absent the opening of an estate in Court, the funds on deposit belong to the survivor.