Legal Question in Wills and Trusts in Tennessee
I come from a mixed family, my mother passed away and now my Stepfather wants to remove my mother's name from bank accounts. However there is a will and property that belonged to my mother goes to her kids and porperty my stepfather purchased goes to his kids. However there are bank accounts that were accumalted after they were married what happens to this money if he removes her name? Also I am very close to my stepfather and I have accounts that are my money and since I lost my husband and only child I have his name attatched to them can he change this without me knowing or if something happens to him can family members come in and take what is mine?
1 Answer from Attorneys
What needs to happen is there should be an Estate for your mom opened. All assets that she owned at the time of her death will be administered in accordance with the Will and the probate code. As far as the bank accounts then the manner in which the accounts were held is important. If they were held jointly, it is likely that they were held as "tenants by entireties". What this generally means is that upon death, the property automatically vests in the survivor. This may be what you have here.
As to the accounts that you have jointly with your step father just be sure that they are set up properly to reflect the accurate ownership. Are they yours, his, belong to both of you 50/50.
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