..account; in the interim that relative dies...as a result of an error in the check used to open the joint account it is returned for insufficient funds...is that now part of the entire estate or does it remain, as intended, for use only by the survivor?
2006-12-09 10:08:38 · 4 answers · asked by Daniel S 1 in Business & Finance ➔ Personal Finance
Does what remain for use only by the survivor? If the check bounced for insufficient funds, then there are no funds in the joint checking account and the funds are still in the other account. If the other account was no provided for in the will or estate, then it could go to probate. however the other account was provided for by the decendent is how the funds are going to go. The joint checking account didn't work out, so NO its not only for the survivor of a joint checking account, because that is $0.00 or whatever the balance is there. The account isn't going to extend over to the other one.
2006-12-09 10:10:56 · answer #1 · answered by Cynthia W 4 · 0⤊ 0⤋
A check isn't money, it's only POTENTIAL money.
There isn't any money in the account, so the rights of survivorship mean nothing. The joint account means, YOU are liable for any fees.
The funds the check would have been drawn on, are now part of the entire estate.
2006-12-09 18:14:48 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
If it's a worthless check then what does it matter? It's worthless. I will give you a bit of good advise. NEVER HAVE A JOINT ACCOUNT WITH ANYONE, EVEN YOUR WIFE. I LEARNED THE HARD WAY.
2006-12-09 18:13:05 · answer #3 · answered by Mr. Right 4 · 0⤊ 0⤋
it depends on the state where you are I would ask an attorny
2006-12-09 18:10:41 · answer #4 · answered by Ivan 4 · 0⤊ 0⤋