How do I access my deceased brother’s bank account if he has a friend who he put on the account?
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How do I access my deceased brother’s bank account if he has a friend who he put on the account?
He won’t communicate with us and we need the money to cover the funeral bill. Doesn’t the funeral cost take priority over all other things? My brother did not own any property or anything else of value. He did not have life insurance.
Asked on July 31, 2015 under Estate Planning, Illinois
Answers:
Gregory Abbott / Consumer Law Northwest
Answered 9 years ago | Contributor
It depends upon HOW the friend is listed on the account documents. If he is either a joint owner of the account or is designated as the beneficiary (a POD - Pay on Death) of the account, then you don't - they are his funds. If the friend was somehow only an authorized signer on the account, then he would have no ownership interest in the funds. In that circumstance, whomever is appointed by the court as Personal Representative or Executor of the estate would have the rights to assemble and/or disperse the funds or, perhaps if your State has a Small Estate administrative process, that route could be used to obtain and administer the funds. All in all, you may want to review everything with a local probate attorney.
Gregory Abbott / Consumer Law Northwest
Answered 9 years ago | Contributor
It depends upon HOW the friend is listed on the account documents. If he is either a joint owner of the account or is designated as the beneficiary (a POD - Pay on Death) of the account, then you don't - they are his funds. If the friend was somehow only an authorized signer on the account, then he would have no ownership interest in the funds. In that circumstance, whomever is appointed by the court as Personal Representative or Executor of the estate would have the rights to assemble and/or disperse the funds or, perhaps if your State has a Small Estate administrative process, that route could be used to obtain and administer the funds. All in all, you may want to review everything with a local probate attorney.
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