Parent passed/Joint account/sister stopped speaking to parent

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You don't need to tell her. You may want to keep some of the statements - unless you have online access. You do need to honor the will. But I assume these accounts will be settled outside the will since you are either on it or are the designated beneficiary. I also assume the will doesn't specifically list these accounts as going to her or you both together.

Correct. They are separate. He put as both as beneficiaries on the other non-probabte accounts but did not include her on the accounts I'm referencing. Part of me feels like challenging the audacity if questioned, when she put in writting to remove her and treated my dad poorly, but the other part of me wants to keep the peace. I'm over beng the rational one and feel she should feel the full spectrum of embarassment/guilt for having her hands out.

Do not tell her about the accounts to which she is not entitled. Remove that paperwork to a safe spot and keep the records for seven years in case of audit.

Do not make any attempt to withhold her inheritance. I understand your feelings, but you would be committing a crime. Just grey rock her and do what you are supposed to do. There is no thing where you can go to court and petition based on her prior request. She would have to disclaim the inheritance now. And she’s not. Don’t let your sister’s bad behavior drag you in.

I don't see how making the OP a joint account holder on bank accounts removes the accounts from the father's estate.

Life insurance can be a different story, as can certain accounts that will only be released to a designated beneficiary.

[Anonymous]

Anonymous wrote:I am on my mother's accounts in case she becomes incapacitated. But if she dies, all money is to be divided equally among the siblings. I am on the accounts for convenience, not to give me a greater portion of the estate.

Yeah - my brother is the executor of my parents' estate, but the proceeds are to be split equally between us.

[Anonymous]

Anonymous wrote:OK, so you are stealing money from her? I can see why she'd get upset. She is in the will, you need to honor that.

That’s not how it works with joint accounts or with beneficiary designations.

If your dad has you as sole beneficiary, only you get that money, OP.

If you are joint on a bank account, the money is already yours. I’m not 100% sure if she is entitled to any of it or not.

My sister is also mentally unstable. I do what I need to protect myself and my mental health. She will say or do anything, including lying.

Pretty sure mine has borderline personality disorder.

My sister will have her hand out too to get whatever she can.

[Anonymous]

Anonymous wrote:Yeah, but if your dad did not explicitly say that you were the only beneficiary of that account, she is entitled to it.

It only matters what is in writing with the company.

[Anonymous]

Anonymous wrote:OK, so you are stealing money from her? I can see why she'd get upset. She is in the will, you need to honor that.

You don’t understand. Those joint accounts are outside of the Will. The joint account automatically goes to the surviving owner. If he had life insurance and he named the one daughter as the beneficiary it goes to her automatically and is not part of probate.

The sister only needs to be aware of the whats in the probate estate.

[Anonymous]

POD, beneficiary, joint accounts are all non-probate. There’s nothing the sister can do and op would be foolish to tell her.

[Anonymous]

I am joint owner on all my parents’ bank and checking accounts. A) Because they don’t want me to have to front any money for end of life expenses and B) because they want those to transfer to be on death and not be part of probate. I have zero obligation to share them with my sibling or probate them. I am also the executor of their estate, of which, half goes to me and half goes into a trust for the benefit of my sibling’s child because my sibling would spend everything on hookers and blow, not kidding. I am also the trustee of that trust.

[Anonymous]

Did the dad wanted everything 50% each or not ?

[Anonymous]

Everything went evenly to each sibling even the ones who didn’t particularly act great towards everyone

Don’t be a d!ck.

[Anonymous]

Shred them and never mention it to her. Keep what your dad put you as beneficiary on. Give her whatever he said in the will minus that stuff. Words and actions have consequences.

[Anonymous]

If he titled the accounts a POD or pit you as a beneficiary, then they are yours now and not part of the estate. That’s why those designations exist.

[Anonymous]

Anonymous wrote:Yeah, but if your dad did not explicitly say that you were the only beneficiary of that account, she is entitled to it.

When you add a beneficiary to a financial account you are explicitly saying who gets the account. No one else is entitled to it. If he wanted it to be split, he would have added them both as beneficiaries to split it in whatever percentage he said.

[Anonymous]

I would look at what the will says and go by that.

[Anonymous]

Anonymous wrote:If he titled the accounts a POD or pit you as a beneficiary, then they are yours now and not part of the estate. That’s why those designations exist.

Echoing this. Joint accounts with rights of survivorship (which is the default) are generally not subject to probate.

As with everything there are exceptions but those are best directed to your attorney.

[Anonymous]

I don’t think OP is obligated to tell her sister about any accounts that the sister doesn’t have a claim too. Just distribute what’s owed to the sister and be done with it.

I’m joint on my mom’s accounts only to handle her money. Even though it’s a joint account all of the money in there is hers. I plan on splitting it with my brother when she’s gone. I consider it 100% part of her estate. But legally I guess I don’t have to, as the account will pass to me only once she’s gone. My moms will has my brother and I splitting her assets.

But in the OP’s case her dad named the sister as a beneficiary he wanted her to be a part of. Not on the joint account so I think OP is in the clear. Just don’t mention them, they don’t involve the sister.