Legal Question in Wills and Trusts in New Jersey
Is the Will Null and Void?
My mother-in-law passed away in October. She had a will drawn up earlier this year. In that will her only possession was money she had acquired through the sale of her home. She had 2 children: my wife and her brother. Her will stated that, upon her death, the money would be split between the 2 children and her 5 grandchildren. What my wife recently discovered was that, upon the sale of the home, her mother placed the money into a savings account with her name on it (the mother's name) AND her brother's name on it. My wife had been waiting for the will to be opened 30 days after her mother's death. Now, her brother told her that he contacted a state agency in New Jersey who informed him that this savings account supercedes the will and makes it null and void and that the money in the account is legally his. He contacted his attorney who agreed with that. The attorney stated that as long as the 2 names on the account are connected with the word ''and'' rather than ''or'' makes the money solely his. For ex: Mary Smith AND Robert Smith as compared to Mary Smith OR Robert Smith. Is my wife and our children screwed here? I don't want to raise any cain if I don't have 2 legs to stand on. Thanks.
3 Answers from Attorneys
Re: Is the Will Null and Void?
1. The name on a bank account does not absolutely determine the ownership of the funds in the account. The bank may use this as a means of determining whether a survivor may withdraw all or part of the funds, but it does not determine the ownership interests between a survivor and a decedents estate. More facts are necessary to determine this question.
2. It is very unlikely that anyone representing the State of New Jersey gave the advice that your brother-in-law reports. First, it is incorrect. Second, State employees are instructed not to give legal opinions to anyone. Legal determinations are made by judges in court. Even if someone gave him an opinion, it is binding on no one.
From the facts that you present, it seems to me that a very good argument might be made for the proposition that brother-in-law's name on the account was merely one of accomodation. Even if this were not true, there would still be a question of whether the account was considered (by your mother-in-law) to be a separate distribution of her assets.
If there is anything more than a trivial amount involved, some one of the beneficiaries should consult with a lawyer soon.
Re: Is the Will Null and Void?
I don't like the sound of this. You need to do some investigating. For example, did your mother-in-law open the account herself, or (more likely) did the brother open it for her (perhaps using a power of attorney) and then convienently add his name as joint owner. Also, did your mother-in-law understand the legal consequenses of the joint account and that it would completely destroy the plan she just created in her new Will (probably not).
You need to see a lawyer ASAP.
Re: Is the Will Null and Void?
I litigated this issue a while ago. no, the name does NOT answer the whole question. You need to sit down with an attorney near you, get some advice and take action.
let me know if I can help.
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