Legal Question in Wills and Trusts in Michigan
Joint Accounts
an aunt of mine opened checking and savings
accounts to pay for her careand funernal expenses.her
brother's name is on the accounts so that he can
assist her. does he get to keep all the remaining
money?
3 Answers from Attorneys
Re: Joint Accounts
If the account was opened as a joint account in the names of your aunt and your aunt's brother, both your aunt and your aunt's brother are equally entitled to the money. In the absence of an agreement between your aunt and her brother or some other restriction on the funds, he would have the right to the money, as much as she would. If you have any further questions, feel free to contact me at [email protected] or consult my attorney profile.
Re: Joint Accounts
Additionally, upon your aunt's death, the remaining money would go directly to her brother and not be included as part of her estate. If you have any further questions, feel free to contact me at [email protected] or consult my attorney profile.
Re: Joint Accounts
YES, unless it can proved by clear and convincing evidence that it was a convenience account. The presumption is that it is the surviving owners account.