How do I transfer an asset thatis in my deceased husband’s name?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do I transfer an asset thatis in my deceased husband’s name?

My husband of 23 years passed away unexpectedly 5 month ago. We had joint checking  and savings accounts. The savings account is only in his name. I do not want to withdraw the money just transfer it. It is around $8,000. Do I have the right to transfer it from one account to another or do I need to open an estate? I heard 2 different options – that there is simply a paper I can have drawn up by a lawyer to transfer funds, and another that said it’s a huge and timely process.

Asked on May 23, 2011 under Estate Planning, Pennsylvania

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Here is the issue: if the account is not in your name as well, it is not a joint account. Plain and simple.  However, if you are named as the beneficiary, you should automatically get that money probably subject to simply filling out a transfer form.  Go and talk to the bank manager about it. If anything shows that you are a beneficiary, then you should be entitled to the money. If you are not named as a beneficiary, then you must probate the asset, along with other assets that must go through probate and so a case needs to be filed.


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 with SHA-256 Encryption