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Home >> Accounts >> Certificates of Deposit
Executor as Joint Owner of CDs in Estate
When it comes to CDs in an estate, does anyone else have access to them except for the person who took them out? If the executor of the estate has his name on the account also, can he make changes to any of the CDs listed in the Will? Is it possible that somehow the executor found a way to change the CDs over to his name, so that he was left a very large sum of money, even though he did not have a good relationship with the person who took out the CDs?
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 If the CDs were jointly-owned prior to the other owner's death, one of two things should have happened: either the accounts would become the sole property of the surviving co-owner, and not become part of the estate at all, or the portion of the accounts owned by the deceased owner would become part of the estate with no co-owner, and the portion owned by the surviving co-owner (the executor in this case) would become solely owned by the co-owner, and not part of the estate. If you have a concern about how an estate in which you have an interest is being handled by the executor, you should contact the probate court supervising the estate's settlement, and seek advice from the court and/or an attorney.
Published on BankingQuestions.com 3/23/09
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