i am benificiary on a money market, the account is at the same bank as a mortgage on the house. my mother had no will. the bank is saying they are
Question Details: holding the money in the money market until the house situation is figured out. we are not sure what we are doing with the house. we are in MI so the value could be an issue
Are you an attorney? Sign up to answer this question.
Legal Answers Categories
Wills, Trusts, Probate Law Answers
Most banks have a clause in thier agreements that allow them to take funds from other accounts to satisfy debts that the same person owes them. However, there may be an exception upon your mother passing, since the money automatically owned by you as beneficiary. Please call me to discuss in more detail. John Tatone @586-868-5100
Related Wills, Trusts, Probate Questions
Didn't find your answer? Ask.
Top Ranking Attorneys
- Hong Shen203 Answers|Points 10150Gold Contributor
- Joseph Gasparrini43 Answers|Points 2050Bronze Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga66 Answers|Points 3250Bronze Contributor
- Shawn Jackson17 Answers|Points 850Bronze Contributor
- Jonathan Griffin14 Answers|Points 700Bronze Contributor
- Hong Shen203 Answers|Points 10150Gold Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga66 Answers|Points 3250Bronze Contributor
- Sharon Siegel62 Answers|Points 3090Bronze Contributor
- Michael D. Siegel56 Answers|Points 2750Bronze Contributor
- Paula McGill50 Answers|Points 2500Bronze Contributor
Are you a lawyer?Want to be featured here? Sign up for a free profile and get started today! Click Here
More Questions Like This...
- Questions from Michigan
- Wills, Trusts, Probate Law Questions
- Michigan Wills, Trusts, Probate Law Questions
 |