Legal Question in Wills and Trusts in New Jersey

The savings account has a name of the person who is the owner. Unless the name on the account provided for a beneficiary or co-owner, and sometimes even in that case, if the owner is deceased, the account must go through estate administration. The personal representative (Executor, if one was appointed in the will) is responsible for determining all of the debts and all of the assets, waiting a specific time allowed for creditors to present claims, and paying the debts and taxes, before distributing any assets. The personal representative will have to satisfy the bank or other financial institution that s/he has the legal authority to deal with the account.

This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.