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Home >> Accounts >> Certificates of Deposit
Do Siblings Inherit My CDs?
I own a CD, and have my mother's name listed on it. When my mother dies, do my siblings have any right to the CDs?
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 In order to give you a definite response, we would need to know exactly how the ownership of the certificate of deposit is recorded. However, if the account is owned by your mother and you, jointly, with rights of survivorship, when either of you dies, the account should automatically be owned by the survivor. If the account is owned without rights of survivorship, the account would ordinarily become owned by the survivor and the estate of the deceased individual, either "50/50," or according to an agreed-upon percentage.
In order to know whether the account is held with rights of survivorship, consult the bank holding the account. If the account deposit agreement does not indicate whether rights of survivorship apply, state law will determine what the presumed form of joint ownership was at the time the account was opened.
Published on BankingQuestions.com 6/11/09
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