Will vs Joint Ownership

What is the name of your state? Oklahoma
It seems that joint ownership of an account or property will trump a will. Wouldn't this make a will a worthless piece of paper, even in court?

mdconnor said:

What is the name of your state? Oklahoma
It seems that joint ownership of an account or property will trump a will.

Click to expand...

There is no "seems" about it. Joint ownership with right of survivorship legally supercedes the provisions of a will. As do beneficiary designations, assets held in trusts, etc.

Wouldn't this make a will a worthless piece of paper, even in court?

Click to expand...

Only if every asset owned by the deceased transferred by means other than probate. In which case, there would not be much point in going to court with the will anyway.

It is common practice for care givers and others to be added to accounts as people get older and are unable to manage their own finances. This sets up a situation that allows the last wishes, as stated in the will, of a person to be circumvented with legal ease. Something doesn't seem right with that picture.

No, there are other ways to accomplish management of funds for care. A guardianship, for example. Or, as my parent did, ALL the beneficiaries (me and my two sibs) were put on the care account, so that it became ours equally when she passed. Additionally, one need not have ALL accounts and assets held jointly. Any accounts/assets NOT in joint ownership pass according to the will.

nextwife said:

Or, as my parent did, ALL the beneficiaries (me and my two sibs) were put on the care account, so that it became ours equally when she passed.

Click to expand...

Are you saying that if there is more then one person listed on an account after a person dies that each one has equal rights to the money? What if one of the account owners removes the other living owner from the account and then after a person dies they keep it all for themselves?