Right of Survivorship Bank Account

[Gibson68]

Jurisdiction

North Carolina

My 92 year old mother was diagnosed with Alzheimer's Disease in April of 2021 and soon became unable to manage her checkbook. My brother volunteered to help but several months later, I noticed his name listed on the account with hers as a joint account.

When I asked her if it was a convenience account or right of survivorship she was unable to understand the concepts but said it was only to pay bills and that she did not intend for him to have that money.

I found a link to a similar case that might be relevant: LEGAL CHALLENGE TO RIGHT OF SURVIVORSHIP ACCOUNTS

It sounds like when the account is set up is crucial to determining its purpose.

Mom died several months ago. The estate inventory arrived today from the family lawyer and, my brother was listed as the owner of that account containing $85,000.

I intend to contest this but don't have a lot to go on. The will contains language about equal division of assets between the two of us and we are listed as co-executors, another expression of her desire for equal treatment of her two sons.

My arguments in probate court would be "Why would she put language in the will about equal division of assets and then give my brother the contents of that account?" Secondly I question her ability to understand anything she was signing at the time.

Need advice on how to pursue this.

 

[army judge]

Mom died several months ago. The estate inventory arrived today from the family lawyer and, my brother was listed as the owner of that account containing $85,000.

I intend to contest this but don't have a lot to go on. The will contains language about equal division of assets between the two of us and we are listed as co-executors, another expression of her desire for equal treatment of her two sons.

Please accept my condolences for the recent passing of your mother.

I pray your heart will one day be at peace over her loss.

The language of the will won't be determinative relative to the language regarding how your brother became a signatory and co-owner/owner of your mother's account.

Your conversations with her about the matter rise to nothing more than hearsay, unless there is documentary evidence to corroborate the conversation(s).

Having seen the human death buzzards in action among some of my relatives, especially upon the passing of my mother and father, they are greedy and evil.

That said, absent proof, not mere allegations or speculation; there's very little that'll happen even if you take the matter to court.

I've seen these buzzards steal gold coins, gold and silver billion, cash, stamp collections, etc...

I walked away to avoid further friction.

To this day I don't speak or associate with those vile critters.

You'll have to decide what to do, after thinking about it for a couple days.

In the meantime, may God bless, keep, and comfort you as you come to grips with your mother's passing.

 

[adjusterjack]

The estate inventory arrived today from the family lawyer and, my brother was listed as the owner of that account containing $85,000.

So? What does your brother say about it? Does he intend to keep it or share it? The question is worth asking.

Start with knowing that a joint account bypasses probate. The money belongs to the joint account survivor at the moment of death of the other account holder.

Unless you have EVIDENCE, not just speculation, a court will presume that she did this voluntary and with knowledge of what she was doing at the time she did it. Doesn't matter what she thought about it later.

The will contains language about equal division of assets between the two of us and we are listed as co-executors, another expression of her desire for equal treatment of her two sons.

My arguments in probate court would be "Why would she put language in the will about equal division of assets and then give my brother the contents of that account?"

That won't get you anywhere. You're asking the court a rhetorical question which a judge will ignore in the absence of EVIDENCE.

Besides, people do that all the time to avoid having to probate some of the assets. Bank accounts are the easiest to keep out of probate.

Secondly I question her ability to understand anything she was signing at the time.

You can't just "question" it, you have to prove it, with EVIDENCE, not just sayso. You are likely to need her doctors to testify about her cognitive abilities at the time she changed the account.

Need advice on how to pursue this.

Hire a lawyer. With $42500 (your share) at stake, you'd be foolish not to.

 

[zddoodah]

First, your mother's will was a meaningless document until such time as she died.

Second, there is no executor until one is appointed by the court. The will merely nominates an executor (or co-execs).

Third, a will only disposes of the testator's probate estate. The probate estate consists of all assets owned by the testator at the time of death other than: (1) assets held in a trust; (2) assets held in an account with a pay-on-death beneficiary; and (3) assets jointly owned with someone else with right of survivorship. Virtually all standard bank account agreements provide that, where there are joint owners, the surviving joint owner becomes the 100% owner upon the death of one of them.

In order to claw back the money in the account for your mother's estate, you'll first have to be appointed as executor. You'll then have to be able to prove that your brother was made a co-owner of the account by improper means.

This is not a DIY project, so consult with and retain a lawyer and do it ASAP. However...

Regarding the article to which you linked and the case discussed in that article: The case is unpublished, which means it has no value as precedent. The following paragraph is also important: "In this case, the allegations ranged from undue influence, to incompetency, to the violation of a fiduciary relationship (by the child who was included in the joint account). However, the Plaintiff's [sic] did not offer any evidence, by affidavit or otherwise, to support their allegations." Not surprisingly, the trial court granted summary judgment in favor of the sibling who was made joint owner on the account, and that decision was affirmed by the appellate court.

The article asserts as follows: "The moral of the story is that when a joint account with right of survivorship is created soon after an individual signs a Will providing for the equal division of his or her estate, and the joint account includes the individual and only one of the individual's heirs/beneficiaries, the chances are good that the validity of the joint account will be challenged following the individual's death." I don't know that I agree with the assertion that the chances of such a challenge are "good." However, even if that's true, the other, more important "moral" is that, without evidence of things like undue influence or incompetency, such a challenge is doomed to fail.