In the event of my death, will my spouse have access to an account solely in my name?
Question Details:
I opened a checking and savings account under just my name. I currently have a joint account under both my husband and I. I have recently established a Will with a Jag officer before I deploy. If something should happen to me would this account be an issue for my spouse?
Yes, it will be frozen (depending on the amount) and only a court appointed Personal Representative of your estate will be permitted to have access to the funds for purposes of administering your estate. May I suggest that you go to the bank and fill out a POD or "Payable on Death" beneficiary form? Many states have them and if it is done properly and on file in the event that something happens he will receive the funds in the account directly. Understand that it is not giving him signatory authority on the account in any way. He has no right to access the account prior to your death. Good luck and be safe. And than you for your service to our country.
