Well my grandpa just died like 10 days ago and my aunt stole a quite a bit of cash out of 1 of his bank account 9 days before he died well she has her name on there but it's not her account she just on there cuz she was the person who took care of his estate but another 1 of my uncles is on his will and it says he has the same power so would he not have the right to take the cash that she stole from him and split it over the 6 kids he was not dead at the time so it would be stealing she is not a wife so does not have the rights to his cash but i need to know if what she did is legal? what to tell a lawyer to do?what does having a name on a bank account mean?and would it be stealing?
2007-12-28 10:22:21 · 13 answers · asked by zanpakuto222 3 in Politics & Government ➔ Law & Ethics
A standard joint bank account is held as "Joint tenancy with right of survivorship".
That means that if one of the holders dies, the content of the account simply immediately becomes 100% the property of the other holder(s).
Your Aunt didn't "steal" the money - if it was in a joint account it was as much hers as his, even if he was the one that put it all in there. That's the risk you take when you enter into a joint account with someone.
You uncle is apparently the executor of your grandpa's estate, and is responsible for sharing out his estate as per the terms of his will.
BUT... any money that he had in joint accounts is NOT part of his estate - it's now purely the property of the other person on the joint account, and she gets to keep it all.
Richard
2007-12-28 10:31:16 · answer #1 · answered by rickinnocal 7 · 3⤊ 0⤋
Meaning Of Joint Account
2016-12-16 16:48:14 · answer #2 · answered by ? 4 · 0⤊ 0⤋
A "joint account" is usually a "joint account with right of survivorship," meaning that if one of the account holders dies, the other account holder has the right to the funds that are in that account. If there's a doubt, check the signature card on the account to be sure.
Checking with a local lawyer who can understand your situation a lot better (e.g., in a face-to-face conversation so you don't have the problem with those pesky punctuation marks) would probably be a wise move, especially if we're talking about a significan sum of money.
2007-12-28 10:32:51 · answer #3 · answered by rules_lawyer 2 · 1⤊ 0⤋
Joint means it is both of your account and you both have equal right to use that money without the others permission. That is why joint accounts are pointless...
As far as your G-pa's account.. He trusted someone else to legally handle his money and obviously made them joint on the account.. There is nothing you can do.. As far as splitting the money between 6 of you? what does his will state? If it is not written that way and he didn't specifically say money was to be split this way between the 6 of you, yes that would be stealing...
2007-12-28 10:54:52 · answer #4 · answered by Ditka 7 · 0⤊ 0⤋
It's a JOINT Account. Meaning both her name and your grandfather's name was on the account. She had every right to go withdraw the money, even if the money, wasnt hers. Her name was on the account so as far as the bank knows, the money belongs to her and your grandfather. A lawyer can't do anything about it since her name was on the account. This will have to be settled through the remaining family members.
2007-12-28 10:29:43 · answer #5 · answered by Danelle 5 · 1⤊ 0⤋
Get Joint Pain Relief Codes!
2016-07-26 21:05:26 · answer #6 · answered by ? 3 · 0⤊ 0⤋
this is why you have to be very careful when having a joint account because both people on the account have full access to the money in it
2007-12-28 10:28:28 · answer #7 · answered by little78lucky 7 · 1⤊ 0⤋
If the account only requires one signature, every cent of it. This also is an instance that says, an appropriate power of attorney was not in place. Your Aunt may have had some legal obligation to show what she did with the assets and how such was used if there was an obligation to pay for his needs and expenses. Its also called neglect.
2007-12-28 10:32:38 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You would have to talk to a probate lawyer. It seems you G-pa may have signed papers and other stuff while he was not of sound mind.
Technicaly all his estate needs to go through probate courts and the judge decides who gets what...of course the creditors get first pickings.
My advise is if the estate is under 30k drop it and walk away...it wouldbe too much headache and heart ache to hire an atty to fight over such a small sum..which most would end up taken by creditors and to pay final income taxes and repay medi-cal if he was enrolled.
2007-12-28 10:51:00 · answer #9 · answered by Aymee L 4 · 0⤊ 0⤋
Joint account means joint ownership. it does not matter why people think the other persons name is on the account, the money is just as much theirs as the other persons.
My mom setup her account with me and my brother as "pay on death". Alleviates these issues, and she trusts me.
2007-12-28 10:27:33 · answer #10 · answered by davidmi711 7 · 2⤊ 0⤋