Legal Question in Wills and Trusts in New Jersey
who is entitled to cds and bank accounts
both of my parents passed away, my mother first then my father this past april. my sisters name was on all their bank accounts and cds. she is executor of the will. Is she entitled to all the money or do i have a claim to part of the money.
2 Answers from Attorneys
Re: who is entitled to cds and bank accounts
In gerneral, title to joint bank accounts passes to the survivor at the death of the other joint owner.
However, if your parents 'intent' was that you and your sister share the assets equally [e.g. the Will leaves everything in equal shares] and your sister's name was added to the joint accounts merely for convienience, bill paying, etc. [or if your sister added her name to the accounts using a power of attorney] then you may have a claim to these accounts. You will need an attorney who will have to review all the facts.
Re: who is entitled to cds and bank accounts
If she was on the accounts, they pass to her and you would not be entitled to anything from the accounts or the CDs.
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