My name was included on my mother's checking account. She recently passed away. Is this account liable for credit card balances of my mother's, or does this account automatically become solely mine? I live in New York.
If the account was opened and maintained with rights of survivorship, the account would not become part of your mother's estate. State law, however, might provide a right of the estate to look to you as the surviving co-owner of the account, if the estate is insufficient to satisfy its obligations. Check with an attorney familiar with New York state laws for further information.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
If the account was opened and maintained with rights of survivorship, the account would not become part of your mother's 