Can this account be considered probate assets?

Asked about 5 years ago - Hastings, FL

My dad sold his house a few years ago & placed the funds in a savings acct with me as joint owner. Are these funds subject to probate? Can the beneficiaries on his will contest this account?

Attorney answers (4)

  1. David Michael Goldman

    Pro

    Contributor Level 17

    Answered . Generally they will not be subject to probate and will become yours upon his death. That being said, we have many cases where we go after these funds and attempt to place them back in the estate. If this is what your father wants to have happen, there are ways of protecting his desires. In addition, should he need a guardianship in the future or be under a DPA, the agent could make changes that would change this.


    David Goldman
    Apple Law Firm PLLC
    331 East Monroe Street
    Jacksonville, FL 32202

    Tel (904) 685-1200 Fax (904) 212-0678

    http://www.JacksonvilleLawyer.pro/
    http://www.GunTrustLawyer.com/
    http://www.FloridaEstatePlanningLawyerBlog.com/

  2. David Michael Goldman

    Pro

    Contributor Level 17

    Answered . Generally they will not be subject to probate and will become yours upon his death. That being said, we have many cases where we go after these funds and attempt to place them back in the estate. If this is what your father wants to have happen, there are ways of protecting his desires. In addition, should he need a guardianship in the future or be under a DPA, the agent could make changes that would change this.


    David Goldman
    Apple Law Firm PLLC
    331 East Monroe Street
    Jacksonville, FL 32202

    Tel (904) 685-1200 Fax (904) 212-0678

    http://www.JacksonvilleLawyer.pro/
    http://www.GunTrustLawyer.com/
    http://www.FloridaEstatePlanningLawyerBlog.com/

  3. Jeffrey Lawson Baxter

    Contributor Level 11

    Answered . No. Beneficiaries can always contest (anything); but they will need evidence to overcome the presumption of setting up the account as joint tenants with right of survivorship.

  4. Keenan M. Post

    Contributor Level 14

    1

    Lawyer agrees

    Answered . As a general principle assets owned jointly pass to the surviving joint owner upon death and without passing through probate. See my legal guide on joint property for a detailed discussion. That said, if the other beneficiaries believe that you were on the account as a joint owner "for convenience only" (to assist with paying bills, etc.) and that you were to divide the account after your father's death and payment of bills, they may have a good argument. Thinking that is what your father wanted will not be enough, they will need to produce evidence to support their allegations. Ultimately you know what your father wanted and should do the right thing, whether that is keeping 100% of the account or splitting it with your siblings. Good luck.

    LEGAL DISCLAIMER
    Mr. Post is licensed to practice law in KS and MO. The response herein is not legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply unsuitable. Mr. Post strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received.

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