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OT lawyers: estate/inheritance question
Posted on 2/6/16 at 12:12 am
Posted on 2/6/16 at 12:12 am
Tl;dr: Grandma dies and has 3 heirs, a daughter and 2 granddaughters from the grandmas deceased son. Grandma has a checking account with $40,000 in it that also listed daughter as an authorized user and the daughter never contributed anything to it.
Who is entitled to what? There is no will and the daughter said she is the only person entitled to the money in the account.
Who is entitled to what? There is no will and the daughter said she is the only person entitled to the money in the account.
8
Posted on 2/6/16 at 12:14 am to sleepytime
quote:
There is no will and the daughter said she is the only person entitled to the money in the account.
This is going to be a clusterfrick with no will. Mostly likely it will be held up in courts for years costing everyone money. Just stay out of it.
Posted on 2/6/16 at 12:14 am to sleepytime
Did you sleep with your grandmother before you killed her?
Posted on 2/6/16 at 12:17 am to sleepytime
I don't know. You should probably talk to a lawyer.
Posted on 2/6/16 at 12:20 am to sleepytime
Its done all the time, but really should never be done to add son or daughter into a joint account with Grandma.
That daughter unfortunately is entitled to 100% of it. And I bet she will probably withdraw it all soon.
Its legal, I've seen it before through bankers. It also really is a crock of shite of those who do it.
That daughter unfortunately is entitled to 100% of it. And I bet she will probably withdraw it all soon.
Its legal, I've seen it before through bankers. It also really is a crock of shite of those who do it.
Posted on 2/6/16 at 12:21 am to sleepytime
Actually hire an attorney
Posted on 2/6/16 at 12:22 am to sleepytime
Depends on your state law so talk to a lawyer in the area of the pending estate. A lot of jurisdictions would look to the status (full account holder, authorized signatory only etc.) of the named individuals on the account and any payable on death beneficiaries named on the account. In most cases in my area if there is another full account holder on the account or a pod beneficiary in cases of no other account holders the funds go straight to them.
Posted on 2/6/16 at 12:26 am to Five0
quote:
Did you sleep with your grandmother before you killed her?
You got me Barney Fife. It's actually my in laws and my wife would be a much better steward of her share of the money. Her aunt is just going to finance her two sons opiate addictions and bail money.
Posted on 2/6/16 at 12:34 am to sleepytime
quote:
There is no will
It escheats to the State.
jk idk. You better call Saul
Posted on 2/6/16 at 12:46 am to sleepytime
quote:
that also listed daughter as an authorized user
So is it a joint account? What is the legal ownership of the account? That's the big question.
If it's a joint account then, grandma and daughter are not married, it's treated as a gift from grandma to daughter, and daughter gets all the money.
If it's not a joint account, and daughter just had signature rights (for example, if grandma was unable to handle her own affairs), then the money belongs to the direct heirs in equal shares (i.e. daughter and son each get 20K). Since son is deceased, son's heirs (granddaughters) step into son's shoes.
End result, daughter gets 20, each granddaughter gets 10.
And for everyone reading this, get a damn will.
Posted on 2/6/16 at 12:59 am to LSUFanHouston
I thought Louisiana got rid of forced heirship?
Just curious. It's been a long time since I took the Estates, Wills and Trusts class.
Just curious. It's been a long time since I took the Estates, Wills and Trusts class.
Posted on 2/6/16 at 1:01 am to Red Stick Tigress
Louisiana had forced wills as of 2006, which is the last time I looked at that
Posted on 2/6/16 at 5:04 am to Red Stick Tigress
That's not forced heirship, that's succession, which is the default if you don't have a will.
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