Legal Question in Wills and Trusts in Michigan

Joint Account ownership

Does ownership of accounts held jointly with rights of survivorship fall outside of a will or written agreement? Does the survivor have ownship automatically once the other dies?


Asked on 6/19/07, 8:51 am

1 Answer from Attorneys
JASSI SACHDEV LAW OFFICES OF JASSI S. SACHDEV, P.C.

Re: Joint Account ownership

The property jointly held with ROS is passed through by operation of law and the through written agreement by operation of contract. Both these operations fall outside the will. These are non-probate assets and yes there is an automatic passing of title (both legal and equitable) once the testator (other) dies.

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Answered on 6/19/07, 9:40 am


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