If my wife has been paying her now late uncle’s bills for him using his money and her name is on the account, it is hers?
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If my wife has been paying her now late uncle’s bills for him using his money and her name is on the account, it is hers?
He was in assisted living. About 8 months ago, he put her name on his bank account so that she could sign all the checks with her name. He passed away last month. He had a Will but she wants to know if any of the money in the account is legally hers or does it all go into the estate?
Asked on January 25, 2016 under Estate Planning, New Jersey
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
It depends what you mean by "he put her name on his bank account."
IF he made it an actual joint bank account, then the money is hers: when owner of a joint account dies, the money in it goes to the other owner.
But if he merely gave her signing authority (e.g. authority to write checks) over the account, but it was still only his account, then the money all goes to the estate.
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