Legal Question in Wills and Trusts in Michigan
bank account with 2 peoples name
if a bank account has 2 peoples names on it, and one dies, who does the bank account go to if not mentioned in the will in the stare of mi.?
2 Answers from Attorneys
Re: bank account with 2 peoples name
It goes to the survivor if there is a joint bank account and one person passes, and there are no other instructions otherwise. Other heirs of the decedent could dispute it, claiming that the decedent didn't intend for it to pass to the joint bank account holder, but it would be a difficult argument to prevail on, depending on the specific facts and circumstances of your case.
Thanks.
Re: bank account with 2 peoples name
That is a good question, and a common one. The law in Michigan states that if a bank account is held by two people, when one person passes away, the other person is the owner of the complete account. This would be an asset that would not pass through Probate Court. If you have any other questions, please feel free to call or email. Thank you.
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