Who is allowed to the bank assets since both of my grandparents passed away?

Get Legal Help Today

 Secured with SHA-256 Encryption

Who is allowed to the bank assets since both of my grandparents passed away?

Both of my grandparents passed away this last year. They had a transfer upon death which outlined what to do with their house and the oil/mineral rights. Nothing was stated about the bank accounts that they had so I was wondering if I am I able to request their bank accounts statements and if I have any legal right to what is in the bank accounts? Since my mother passed away before both of my grandparents, I am listed on the TOD as the one who will receive what was supposed to have gone to my mother. I am just trying to make sure that my uncle did not go in and close the accounts while taking all the money without telling anyone.

Asked on December 14, 2018 under Estate Planning, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

If there was a will, the bank accounts will go to whomever they were willed to, and in the meantime (pre-probate), the executor named in the will has the right to access them and use them for estate expenses or to pay any claims against your grandparents. The executor cannot simply take the money for himself; he manages the estate funds, but only gets whatever share (if any) he is entitled to in the wil.
If there was no will, the funds go by "intestate succession"--the rules for who gets what when there is no will. If the only children of your grandparents were your mother and uncle, your uncle gets 1/2, and you and siblings of yours split your mother's 1/2. In the meantime (again, prior to the estate being settled), the administrator or personal representative (either term may be used) appointed by the court for the estate can access the funds for estate expenses or to pay claims against your grandparents or their estate.
The executor or administrator/personal representative would need documents (often called "letters testamentary") from the court confirming their authority over the estate; then they can access the accounts.


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