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Home >> Special Situations >> Deceased Individuals
Removing Name from Account of the Deceased
My mom was getting feeble, so she let her three daughters put our names on a joint account. Now she is deceased, and my two sisters, co-executors, and myself, a non-co-executor, are still on this account. I want to remove my name from it. Will I be able to do this, and if so, how do I do this? Do I have to do this in person, as I live overseas? Can someone with my Power of Attorney do this?
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 If there is agreement among you and your sisters, the easiest way for this to be taken care of is for one of your sisters to simply close the account and open a new one with your other sister. Your involvement will be nothing more than letting them know you agree to it. Before anyone does anything, you should all check with a tax advisor to determine what, if any, impact your receipt of the funds and the transfer of ownership to your other two sisters may have on your respective U.S. income tax obligations.
Published on BankingQuestions.com 12/03/09
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