Does the money in a account of a deceased person and a joint owner go to the estate of the deceased or to the joint owner?

Father died with several accounts, all but one account went to estate. One
account with one of the siblings as joint owner bank would not give to estate but
rather to joint owner.

Asked on March 22, 2018 under Estate Planning, Alabama

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

Joint ownership determines the distribution of an account upon death; in other words the surviving owner is the sole and legal owner of the account at such time as the other co-owner dies. An estate has no claim to such monies.


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