As executor of my mother’s estate, can I avoid probate if the only assets is a checking account of which I am a co-signer of?
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As executor of my mother’s estate, can I avoid probate if the only assets is a checking account of which I am a co-signer of?
The only assets my mother had her home was sold long before her passing was a
checking account. I am a co-signer on that account and handled all her bills. She
left a Will, dividing her assets between her 3 children. All debts have been paid.
Can I simply file the Will and divide the funds up as specified in it?
Asked on September 26, 2018 under Estate Planning, Wisconsin
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
I am so sorry for your loss. So banks view co-signers and co-owners of bank accounts differently. Co-signers don't generally have the right to make withdrawls. They are just guarantors. Are you sure that is what you are? I would double check with the bank. If you do not have the right to make withdrawls then you would have to probate the account but if the account is under $50,000 then you can use a small estate affidavit. Good luck.
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