Legal Question in Tax Law in New York

Joint accounts

my sister and I had a joint bank account I did not contribute to the accountShe passed away recently.Are the proceeds of the account an inheritance The account is registered as ''Grace Hartmann and George Hartmnn''


Asked on 10/07/06, 3:55 pm

1 Answer from Attorneys
Norman Nadel Norman Nadel, Esq.

Re: Joint accounts

Check with the bank to find out whether the account provided for "with right of survivorship" or "without rights of survivorship.".

If the account provided for "right of survivorship" then the entire account goes to you, the survivor.

Otherwise, the balance in the account becomes part of your sister's administrable estate.

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Answered on 10/09/06, 12:32 pm


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