Elawyers Elawyers
Washington| Change
Asked in Philadelphia, PA Jun. 18, 2020 ,  1 answers Visitors: 113
My grandmother just recently passed but she left a handwritten will in which I was a witness to
Tag: 

1 Answers

Anonymous
Reply

Posted on / Jun. 18, 2020 11:52:51

Potentially, if your grandmother and her daughter were joint owners of the bank account (which is also called "joint owners with the right of survivorship" - check the paperwork that was signed when the account was opened, or when daughter's name was added to the account). In such a case, when one owner dies, the money in the account goes to the remaining and surviving owner. If that occurs, and there is no other cash available elsewhere, then the testamentary wishes of your grandmother cannot be fulfilled.

For example, if I write a Will and leave $1,000.000.00 to my dog -- but I don't have $1,000,000.00, or any money at all -- then the intent of the Will can't be carried out. Likewise, while your grandmother may have intended to distribute cash to named beneficiaries named in her Will, if the account was a joint account with her daughter, then the money becomes her daughter's upon grandmother's death.

But that's not necessarily 100%. Depending how much money you're talking about, it's worth having a consultation with a competent probate/estates attorney. If you're dealing with $50.00, it's almost certainly not worth it. But $50,000.00 would be.

Best of luck to you.

Can't find what you're looking for?

Post a free question on our public forum.
Ask a Question

Can't find what you're looking for?

Post a free question on our public forum.
Ask a Question
Search for lawyers by practice areas.
Find a Lawyer