Legal Question in Wills and Trusts in Texas
I am my aunt's caretaker and have a statuatory power of attorney to handle her affairs. She has her will set up to divide everything equally among her nieces and nephews. She has annuities and some other investments set up under "The Estate of my aunt's name". She has a checking account in which her name and my name. She told me she wants me to keep the checking account after she dies. Can I do this or does her checking account become part of the estate?
1 Answer from Attorneys
It depends on the paperwork that was signed to open the account. A Payable on Death account is paid to the designated payee and bypasses probate. Suggest you contact the bank to make sure that the correct paperwork has been filled out. If not, I would recommend that your aunt sign any paperwork to make the account a POD account
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
