What are my rights regarding a joint bank account?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What are my rights regarding a joint bank account?
My dad did not put his bank account in a Trust. I am on the bank account with him. He did this so that I could pay his bills and split the money 3 ways with siblings. His bank won’t let me take the money out and make cashier’s checks to the 3 of us. They want me to put it in his Trust. Again he did not want his bank account going to his Trust. Is this legal for the bank to deny me?
Asked on November 7, 2013 under Estate Planning, Indiana
Answers:
Anne Brady / Law Office of Anne Brady
Answered 11 years ago | Contributor
It depends on what his will and trust documents say. If they say that all bank account funds are to pass to the trust when he dies, then that is what happens. However, if the joint bank account was held as joint tenants with rights of survivorship, that will trump the trust and will.
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.