Legal Question in Wills and Trusts in New York
joint accounts
My sister and I had a joint account. I did not contribute to the account .
When she died, the contents of the will and the jont accounts were listed in the final request for approval by the probate court.
I was appointed executor but nothing was bequeathed to me in the will.
Since all the bequeathed were privy to this information, was this a violation of my privacy rights to disclose what she left to me jointly
2 Answers from Attorneys
Re: joint accounts
I'm not sure what you mean by "violation of your privacy rights," but generally, you have no obligation to report jointly-owned assets (such as your joint account) to the probate Court.
Re: joint accounts
I do not believe so. As Executor, you are have the duty as a fiduaciary to report to all interested parties, and account for, ALL assets in the decedent's name, whether owned individually or jointly, whether paid to the estate or a designated beneficiary (like life insurance or retirement plans), and which may possibly subject the estate to federal or state death taxes, whether or not any are actually due. For example, someone may have created an "accomodation" joint account, which is one where a joint account is created, but only to allow the second party access to the account, so bills can be paid, etc., but not meaning the joint account holder should automatically inherit the account on the creator's death. Failure to report this could be considered as fraud on the estate, if a question existed as to your entitlement to the account proceeds.
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