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Real Estate Attorney
You should discuss this with a local attorney. Many will offer a free initial consultation.
Actively practicing law in Texas. Inactive licenses in Arizona and Georgia. All answers are general in nature and no attorney/client relationship exists in this forum.
There is a lot more information that would be needed to answer this question. If the account was owned by a trust it is managed by the trustee. I don't know if by saying you were "on" the account means you are a trustee or a beneficiary or what? You should see an attorney, and bring the relevant documents, so an assessment can be made.
This is not legal advice nor intended to create an attorney-client relationship. The information provided here is informational in nature only. This attorney may not be licensed in the jurisdiction which you have a question about so the answer could be only general in nature. Visit Steve Zelinger's website: http://www.stevenzelinger.com/
I would need a great deal more information in order to answer your question. Feel free to contact me and perhaps I can be of help.
Estate Planning Attorney
It sounds like you are asking if the account is a probate asset or non-probate asset. Probate assets are certainly liable for the debts of the estate. Non-probate assets are usually not. In order to determine if the account passes as a non-probate asset, a lot more would need to be known.
And as others have mentioned, if it is a trust account, it would be another matter altogether.
Kendall Cockrell is an attorney with The Cockrell Law Firm in Beaumont, Texas. None of the opinions he states on this site constitute an attorney-client relationship. For more information, contact The Cockrell Law Firm. Contact information available on Kendall Cockrell's profile on this site.