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Joint Survivorship

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tcscotch

Junior Member
What is the name of your state?

NJ

I was left as the Joint survivor on all of the accounts, of a close personal friend that passed away,I cannot access any funds from them (according to the bank). Can an account be unfrozen by myself, or do I need a lawyer/paralegal to do it.

There is also a will that has me down as the beneficiary but that is being challenged as well. The will was notarized with the decedent myself and the notary present. The proper declarations were made but there were no other witnesses.The will was notarized three years prior to her death, and it was dated .What is the name of your state?
 
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Dandy Don

Senior Member
Who is challenging/contesting the will? Are those persons relatives of the decedent?

Did you have power of attorney for the decedent?

What is the value of the estate and how much money is in the account?

Did you have a same-sex relationship with the decedent or not?

What specific reason is the bank giving you for not giving you the money?

How many witnesses were there for the will?

DANDY DON IN OKLAHOMA ([email protected])
 
What difference does this make? If I wasn't reading this, I wouldn't believe you asked it. :rolleyes:
From DD I can believe it. Now for the most obvious, but as yet unasked, question for the OP: exactly how were the accounts, etc. titled? As joint tenants in common or joint tenants with right of survivorship? If neither is specifically listed, then check your state's statutes to see if there is a statutory presumption one way or another as some state presume 'right of survivorship'.
 

Dandy Don

Senior Member
How many years did you know the decedent?
Did the decedent suffer from some type of disease or was she taking medication that could have affected her judgment at the time she signed the will?
What was her reason for giving you POA?
Was her will prepared with the assistance of an attorney?
Did you use the POA to add your name to decedent's bank accounts while she was alive or did the decedent add your name herself?

Will may not have been witnessed by the proper number of witnesses, but if you do not currently have an attorney representing you in the probate proceedings, then you seriously need to consult a business law attorney. That money automatically became yours right after the death occurred, under the concept of right of survivorship, and the reason the bank is giving you for withholding your money is BS. If you can't afford an attorney, mention the name of the bank here and I can find a government agency where you can file a complaint against the bank.

The bank can not use the excuse that they won't pay you because the will is being contested, because the joint account designation overrides the will and is not affected by the will.

DANDY DON IN OKLAHOMA ([email protected])
 
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anteater

Senior Member
..... That money automatically became yours right after the death occurred, under the concept of right of survivorship, and the reason the bank is giving you for withholding your money is BS. If you can't afford an attorney, mention the name of the bank here and I can find a government agency where you can file a complaint against the bank.

The bank can not use the excuse that they won't pay you because the will is being contested, because the joint account designation overrides the will and is not affected by the will.
DANDY DON IN OKLAHOMA ([email protected])
How do you know what reason the bank is giving?

New Jersey law is sticky about the release of funds, even if held JTWROS, until New Jersey Estate and Inheritance tax has been paid and a release is obtained from the Department of Revenue. There is this exception - but note the use of the word "may."

Notwithstanding the waiver provisions above any financial
institution may release up to 50% of any bank account, certificate
of deposit etc. to the survivor, in the case of a joint account, the
executor, administrator or other legal representative of a
RESIDENT decedent’s estate. This procedure is referred to as a
BLANKET WAIVER. This procedure is not available for the
transfer of stocks and bonds.
And why haven't you answered the questions above?
 

Dandy Don

Senior Member
I could answer the questions you have posted, but I choose not to, in order not to clog up the board with responses to posters like you whose only intent is to ARGUE when instead the purpose should be to respond to the concerns of the original poster. In addition, the original poster DID mention the reason that the bank mentioned she was not receiving the funds, something about "because the estate was in litigation" but the poster edited her message yesterday. If you really want answers, contact me at my e-mail address.

DANDY DON IN OKLAHOMA
 
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