Legal Question in Wills and Trusts in Texas

Bank Accounts and Personal Estates
Bank Accounts and CD's are in both parties names,
Example: "Person-A or Person-B"
when Person-A dies, Person-B can obtain the finances by simply removing Person-A's name from the accounts.
I know this to be true.
My question is:
Are the above accounts Legally considered part of
Person-A's estate. If there are legal actions against the estate of Person-A, can the above accounts be
attached to the estate, or are they seperate.
I am hoping that they are seperate, and any legal
actions against the estate cannot touch the accounts.
PS: Wills do not list the accounts.

Asked on 1/30/00, 6:20 pm

Roger Powell Roger T. Powell, Attorney

0 users found helpful

0 attorneys agreed

Re: Bank Accounts and Personal Estates

Generally speaking, funds in an account belong to

the person who deposited them. It would appear that

if person "A" deposited the funds in the account,

these funds could not escape a judgment simply

because they are in a joint account. The wills

won't make any difference.

Answered on 3/11/00, 3:32 pm

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