My father passed away 12/15.

My father lived in an ALF. He had no real estate and had 8k in a joint account with
me. I have 2 siblings and dad wanted any monies divided evenly between the three
of us. We are in total agreement. He had no debt. He lived in Florida. Does this still
need to go thru probate?

Asked on December 27, 2018 under Estate Planning, Florida

Answers:

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

Answered 1 year ago | Contributor

A joint bank account is not considered an asset of an estate. Accordingly, if the bank account is in both of your names, then you are entitled to the money in it automatically; probate is not necessary. What you choose to do with the money (i.e. share it with your sibings), does not change that fact.

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

Answered 1 year ago | Contributor

A joint bank account is not considered an asset of an estate. Accordingly, if the bank account is in both of your names, then you are entitled to the money in it automatically; probate is not necessary. What you choose to do with the money (i.e. share it with your sibings), does not change that fact. 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.