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  • Assests South Carolina

    My mother and I have a joint checking account. She passed away earlier this year. Her house had been sold before her death and the money put into our joint account. Is that money from the sale of her house to be considered part of her estate even though it is in our joint account? It is a right to survivorship account.

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    Originally posted by Hidester View Post
    My mother and I have a joint checking account. She passed away earlier this year. Her house had been sold before her death and the money put into our joint account. Is that money from the sale of her house to be considered part of her estate even though it is in our joint account? It is a right to survivorship account.
    Normally in a joint checking acct. with right of survivorship if one of the jt. acct. owners dies, the entire interest in the acct. immediately vests with the survivor & the deceased's estate has no further interest in the acct. However, there is a practice called fraudulent transfer/fraudulent conveyance where someone "transfers" assets to where creditors normally cannot get to them just for that purpose - to keep creditors from getting the asset or money from sale of asset. (or creditors will claim that is the reason it was done) I don't know how long ago your mom sold her house, whether she died with any debts, had a will, etc. You might want to run your question by an attorney to be sure there is no problem with the money passing to you.
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