Legal Question in Wills and Trusts in Michigan
My father has a trust set up and he also has money in a separate joint account with my name on it. At the time of his passing will this account be found by my siblings if it is not in the trust? Will they run a credit check to find all of his bank accounts?
1 Answer from Attorneys
The joint account passes outside of probate to the living joint account holder - you. Your siblings would not have access to the account unless you provided it. If you wish to, you could withdraw the funds and close the account. The bank would not provide them with any information about the account absent a court order to do so. Joint accounts are set up for the ease of transfer of ownership upon death and the court would not interfere with that purpose absent a showing of fraud, duress, or something of the like.
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