Legal Question in Wills and Trusts in New York
husbands sudden passing
Thank you Mr. Markowitz - What about monies in a joint checking account and money market - I was told it went to me? Any existing bills under his name am I responsible?
Asked on 12/07/08, 11:05 am
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: husbands sudden passing
Generally, for a joint checking account and money market, the money would automatically pass to the joint account holder. It depends on the language for the specific account.
The estate would be responsible for bills under his name. However, there are some exceptions (like medical bills) where the spouse would be responsible for those items. If bills are in joint name you would continue to be responsible for the bills.
Mike.
Answered on 12/07/08, 11:21 am