If someone sells stocks 2 days before they die and the money is deposited after death into joint account, is it estate money or that of co-owner of account?

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If someone sells stocks 2 days before they die and the money is deposited after death into joint account, is it estate money or that of co-owner of account?

Asked on January 13, 2011 under Estate Planning, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Let me understand the scenario.  I am going to make certain assumptions here: the stocks were not joint property but separate property.  That is the first assumption.  The party dies and deposits them in to an account that was jointly held or "co-mingles" the money.  I would take the stance that it was the decedent's intent to take the money that was considered separate property and to make the money joint property.  There may be other factors her that you have not stated that need to be considered to have that outcome: are the parties married?  What type of account is the joint account?  Are there rights of survivorship?  You should seek legal counsel in your area.  Good luck.  


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