If my mother does not have a Will but has set me up as the beneficiary on her bank accounts, will I need to go to court or involve a lawyer to pay some of her final bills?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If my mother does not have a Will but has set me up as the beneficiary on her bank accounts, will I need to go to court or involve a lawyer to pay some of her final bills?

Asked on December 7, 2012 under Estate Planning, North Carolina

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 11 years ago | Contributor

If you are the beneficiary on a "pay on death" (POD) or "transfer on death" (TOD) account, the account balance will be paid to you upon your mother's death.  You will not need to go to court or hire a lawyer to receive the balance.

You are not necessarily responsible for your mother's bills after she passes away.  In many states, POD and TOD accounts pass outside the estate and are not subject to creditors' claims.  After your mother passes, I would accept the balances from her accounts, deposit them into my own account, and wait to see what bills exist.  If they are significant, you can consult a probate attorney in your mother's area to see if you are responsible for any of them.


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption