Legal Question in Wills and Trusts in Michigan
Jont Account and 'Agreement'
My mother and step father had a prenup drawn up 22 years ago leaving joint assets to the survivor. My step father recently passed away and we found out that he wrote an agreement himself that instructs my mother to distribute all the money in their joint accounts to the 8 children (all by previous marriage: 6 his & 2 hers). My mother signed the document but says she did so to keep peace as he was very persistent. Also, a clause in the document instructs her to pay $500 per month of the pension she now receives (because of his employment) to his children.
She had legal representation for the prenup but was allowed none for the 'agreement'.
Is this document legal?
Does ownership of the joint accounts pass to her directly rendering the 'agreement' useless?
Is it legal to instruct someone to pay away part of their pension check?
My mother has discussed this with a lawyer but I wanted a second opinion.
Your prompt reply is appreciated.
1 Answer from Attorneys
Re: Jont Account and 'Agreement'
My partner Ron Barron specializes in these types of issues. However, my thought it is not legal unless there was consideration for the agreement your mother agreed to. Further, the law presumes the survivor of joint accounts are the owner.
Please check out our web site for our contact info. www.brmmlaw.com
Don Rosenberg