Legal Question in Wills and Trusts in Ohio
Rights of Survivorship
My grandfather and I had stocks in Joint with Rights of Survivorship. He passed away. I understand that the stocks are now mine without Probate. My sister wants to argue that because his will states that His ''estate'' was to be divided. I was his caregiver; she was not envolved. I have the stock money in my name. Am I in a situation that she can contest? I have already divided the cash he had on hand at the time of his death, eventhough that too was in a joint account. Thank you.
3 Answers from Attorneys
Re: Rights of Survivorship
Jointly held assets are presumed to belong to the surviving joint owner. They are not subject to the terms of the will. This presumption is very difficult to overcome.
Re: Rights of Survivorship
The only assets that will be distributed according to your grandfather's will are the assets in his "probate estate". The stock passed to you through joint ownership with rights of survivorship and are not a part of the probate estate. You have no legal obligation to distribute the stocks or the cash.
Re: Rights of Survivorship
No, the stocks,if they are registered the way you describe belong to you as the survivor.
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