Legal Question in Wills and Trusts in Maine
Bank Accounts
My brother's name was on my mother's bank accounts in case she became ill or otherwise. She just drew up a Will and told my bother that his name had to come off the bank accounts or the Will would be null and void. Is this correct?
Asked on 4/07/08, 1:43 pm
1 Answer from Attorneys
Jerome Gamache
Ainsworth Thelin & Raftice, P.A.
Re: Bank Accounts
A bank can allw multiple names on an account either for use during life, but account still owned by just 1 person, or the Bank can set it up so that the account is truly joint, and the proceeds go to the survivor if one dies. Its all in the way it is set up, so the Bank needs to be sure what it is doing and what the account holder wants it to be.
The account may pass outside of the Will if it is truly joint.
Answered on 4/07/08, 2:05 pm
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