Inheritance of a joint account

108 posts in this topic

On brokerage account in the U.S. one can also designate a JTWROS (joint tenant with right of survivorship). Of course one still needs a will for everything else.

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2 hours ago, BethAnnBitt said:

Sounds like he just forgot to update.  That can happen easily.  My husband's former employer, a university, annually sent notices out to encourage updates to avoid this situation.

 

I had a coworker who died in a car accident. There was a small insurance policy from the union that his wife would have gotten but he'd never even bothered to fill out the form so no beneficiary, no pay out.

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3 hours ago, BethAnnBitt said:

I know of this case too!  

 

I’m confident the incident I described has been repeated across the globe. However, I’m also confident the incident I described is not the same one you described. I am happy everything worked out for the family you know. This was not the case for the family I knew. The former wife was a bitter person and the widow was left with nothing.  I knew both. 

 

All blame for the outcome rests with the deceased husband, since he could have changed his beneficiaries at any time. Unfortunately, no one can peer into his mind to second guess his actions, and the affected agencies must take the documents as written. It’s sad, but that’s the law. 

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Yes.  Your case is very sad from numerous perspectives.  In my friend's case she and her husband had been together at the university benefits office after their marriage and she recalls that he changed the beneficiary to her.  She believes the papers were misplaced and she was shocked upon learning of the situation because she had been there with him.  He was a well respected professor in the community.  After the incident, which fortunately ended so well, the university began the policy of reminding people to check on this.  She was just extremely lucky.

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3 hours ago, JG52 said:

All blame for the outcome rests with the deceased husband, since he could have changed his beneficiaries at any time. Unfortunately, no one can peer into his mind to second guess his actions, and the affected agencies must take the documents as written. It’s sad, but that’s the law. 

 

If it was an ugly divorce he probably didn't mean for the ex to get everything and the wife nothing so he probably didn't think of changing the beneficiary or was going to do it later. Most ppl aren't planning on dying any time soon.

 

However I saw a case in the media where the wife was bitterly complaining that the husband forgot to change the beneficiary on his life insurance and it went to his ex. However people who knew him claimed that he did it on purpose. Wife got the house and money in the bank and his ex got the insurance. In some cases it can be on purpose like if he has kids with the ex too he doesn't want to leave them penniless.

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4 hours ago, catjones said:

Talk about timing.  Just got this.  Can't believe my luck!  Looks like I'll be spending a lot of time at ATMs.

 

ATTENTION BENEFICIARY

 

 

 

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Contact him through the below stated information and forward your personal details to him.

 

 

 

Contact Person:Dr.Jimmy Harrison

 

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Email address:drjimmyharison10@hotmail.com

 

 

 

REMEMBER TO SEND HIM YOUR FULL INFORMATION AS REQUIRED BELOW TO AVOID WRONGFUL DELIVERY,

 

1. Your Full Name:____

 

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NOTE: that the amount to be paid to you is ($1.5million USD) we expect your urgent response to this email to enable us monitor the payment effectively.

 

 

 

Best Regards

 

Maria Ben

 

Worse grammar than most English teachers´!

:rolleyes:

So...sounds plausible!!!

 

Whatever the spelling..jail or gaol...these people deserve some thinking time. Bastards.

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On 11.1.2020, 20:40:18, LeonG said:

According to  https://www.erbrecht-ratgeber.de/erbrecht/pflichtteil/eltern.html  it looks like if you don't have children, his parents have the right to inherit half of his half of your common assets.  His siblings and their kids don't inherit because his parents are alive.

 

 

I doubt this statement. In case there is

- no will,

- no kids and

- no prenup

the initial inheritance might only be 50%, but without a prenup the wife is also entitled to 25% as the flat Zugewinnausgleich (her share of what the couple has gained during the marriage).
This source https://www.finanztip.de/ehegattenerbrecht/  seems to verify this (scroll down to Beispiel 2), which means that 75% remain with the widow and the parents are only entitled to 25%.

 

 

 

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