Legal Question in Wills and Trusts in Texas
JTWROS Bank Accounts
My mother and father have a joint banking account with a balance of less than $50k. My father recently passed away. Is it necessary, or recommended, that my mother change the ownership of the account into her name only?
Asked on 9/14/07, 1:43 pm
1 Answer from Attorneys
Kathryn Perales
PMI Oil Tools
Re: JTWROS Bank Accounts
I see no urgent reason to change it. It would be a good idea to make sure the bank knows about his death. Also, since circumstances have changed, she may want to consider adding a POD (pay on death) beneficiary to the account.
Answered on 9/14/07, 2:27 pm
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