What are my rights if my aunt wants to put my name on her bank accounts becasue she doesn’t want to do a Will?
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What are my rights if my aunt wants to put my name on her bank accounts becasue she doesn’t want to do a Will?
She says she has no Will and doesn’t want one because she doesn’t want any of her siblings kids to get anything. When the time comes and my aunt passes, do I have legal right to these accounts if in fact there is no Will?
Asked on October 6, 2014 under Estate Planning, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
You aunt is doind a little estate planning which is great. I think that she wants to add you as a joint account holder which means that the money will in fact go to you when she passed. But I would go to some one (like an estate attorney) as well as the banks with her and have her explain her wishes and there is also a POD (payable on death) beneficiary form she can fill out, but that could run in to problems with creditors. Good luck.
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