When spouses have one bank account with both their names and "ITF" for one or two siblings, and wife dies then husband also dies six months later, does the account become part of estate or just the "ITF".
The answer will depend on the laws of the state where the account was opened. Speaking very generally, the norm would be that the "ITF" in the account title, which is typically a form of "pay on death" designation, doesn't take effect until the last joint owner of the account dies. At that time, assuming the ITF designation was not previously canceled, the account would typically become the property of the designated beneficiary or beneficiaries, and would not be a part of either co-owner's estate. The bank holding the account can provide you additional information.
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The answer will depend on the laws of the state where the account was opened. Speaking very generally, the norm would be that the "ITF" in the account title, which is typically a form of "pay on death" designation, doesn't take effect until the last joint owner of the account dies. At that time, assuming the ITF designation was not previously canceled, the account would typically become the property of the designated 