Will my dying father’s checking account balance be lost to hospital bills after he passes?
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Will my dying father’s checking account balance be lost to hospital bills after he passes?
My dying father’s only assets are a checking account with more than $2000 but less than $10000 and a joint interest in co-op shares in a residential building where he lived until being taken to hospital. I was told he is not eligible for medicaid. He has no health insurance nor medicare. Once he passes will the hospital be able to claim the checking balance to satisfy their bills? What about the co-op shares in the condo? I am the joint owner with survivorship of the co-op shares but only POD on the checking account.
Asked on August 4, 2012 under Estate Planning, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
From what you have written with respect to the co-op shares and the pay on death checking account of your father, you receive such upon his death where it appears that any health care providers would not be able to receive such. It is imperative that you have some probate of his estate to close it out and bar any future creditors from making claims down the road.
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