What is the name of your state (only U.S. law)? I/m in MD but decedent resident in FL.
My mother resided in and recently died in Broward County, FL. I am named executor in her will. My sister who also lives in Broward has been assisting in her care and last month had her name added to my mother's checking account (JTWROS) to pay her bills. The balance at time of death was approx $16000. My mother left a car with an outstanding balance of $10,600, a mutual fund worth maybe $5000 depending on the market in the last 4 months, and a vacation trailer worth no more than $3000. My question is this: 1) are the funds in the joint account part of my mother's assets vis-a-vis paying her creditor (car) and 2) do I need to go through probate in whether or not this is true?
The cost of the trip and lawyer will not be too great but if the joint account doesn't count towards her bills, my mother seems to have died, well, "bankrupt".
How is this generally handled?
Thanks,
Wendy
My mother resided in and recently died in Broward County, FL. I am named executor in her will. My sister who also lives in Broward has been assisting in her care and last month had her name added to my mother's checking account (JTWROS) to pay her bills. The balance at time of death was approx $16000. My mother left a car with an outstanding balance of $10,600, a mutual fund worth maybe $5000 depending on the market in the last 4 months, and a vacation trailer worth no more than $3000. My question is this: 1) are the funds in the joint account part of my mother's assets vis-a-vis paying her creditor (car) and 2) do I need to go through probate in whether or not this is true?
The cost of the trip and lawyer will not be too great but if the joint account doesn't count towards her bills, my mother seems to have died, well, "bankrupt".
How is this generally handled?
Thanks,
Wendy