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In the state of New Mexico is the bank account considered tangible or intangible in respect to a will ?

Elyria, OH |

I am the executor of my father in laws will in the state of New Mexico , ( I live in Ohio ) the will states that personal effects , household effects , automobiles and other tangible personal property be left to a designated person . Is the bank account considered tangible or intangible ?

Attorney Answers 3

Posted

The general rule is that if you can hold it in your hand, it's tangible. You should ask your attorney in New Mexico.

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Posted

This is a great question. I would look to the terms of the Will for guidance. A probate attorney would be of great benefit to you in doing this. It *sounds* like the provision in question deals mostly with personal items that do not have title, (with the exception of the automobiles). Bank accounts would normally fall outside this description. A careful reading of the Will is called for, however.

James Frederick

***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!

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Posted

Take a look at this document http://jec.unm.edu/manuals-resources/manuals/2011%20Probate%20Judges%20Manual.pdf - third paragraph down. As is the case here in Ohio (and everywhere else that I'm aware of) bank accounts are intangible property.

The information provided here is general in nature and is not to be considered legal advice. No attorney-client relationship is intended nor created. As an Ohio attorney not licensed in any other jurisdiction, any information provided here is solely based on Ohio law and general legal principals. The information provided here should not be put into practice without specifically consulting an attorney in your jurisdiction. Do not proceed without first discussing this matter with your own local attorney.

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James P. Frederick

James P. Frederick

Posted

Nice link. That was a good find!

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