My father passed away 12/15.
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My father passed away 12/15.
My father lived in an ALF. He had no real estate and had 8k in a joint account with
me. I have 2 siblings and dad wanted any monies divided evenly between the three
of us. We are in total agreement. He had no debt. He lived in Florida. Does this still
need to go thru probate?
Asked on December 27, 2018 under Estate Planning, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
A joint bank account is not considered an asset of an estate. Accordingly, if the bank account is in both of your names, then you are entitled to the money in it automatically; probate is not necessary. What you choose to do with the money (i.e. share it with your sibings), does not change that fact.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
A joint bank account is not considered an asset of an estate. Accordingly, if the bank account is in both of your names, then you are entitled to the money in it automatically; probate is not necessary. What you choose to do with the money (i.e. share it with your sibings), does not change that fact.
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