Suppose you have a prenup that specifically states:
“The parties hereby stipulate that in the event both parties names are placed on an account that was separate property of one party at the time of this agreement, it is to be assumed that it is for management purposes only, and the account shall remain the property of the original owner or their estate.”
You also have a will that says:
“All joint accounts held by X and X shall be the property of X” (the wife) on my death.
Situation:
A man passes away in March. He had a pretty substantial estate and got remarried about 15yrs ago. They executed a prenup. My man still received his previous wife’s retirement and SS. He never touched it. He had his daughter on one of his bank accounts and his son on the account his previous wife’s money went into in case one of them needed to access a large chunk of cash if he was debilitated.
The son ended up taking money so the man removed him from the account and added the new wife so she could get access.
The man dies, the wife gets put in a home 2 weeks later, her kids empty the account (not a small sum) on the same day since her name was on the account.
Does the will or the pre-nup take precedence?
Asking for a friend….
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“The parties hereby stipulate that in the event both parties names are placed on an account that was separate property of one party at the time of this agreement, it is to be assumed that it is for management purposes only, and the account shall remain the property of the original owner or their estate.”
You also have a will that says:
“All joint accounts held by X and X shall be the property of X” (the wife) on my death.
Situation:
A man passes away in March. He had a pretty substantial estate and got remarried about 15yrs ago. They executed a prenup. My man still received his previous wife’s retirement and SS. He never touched it. He had his daughter on one of his bank accounts and his son on the account his previous wife’s money went into in case one of them needed to access a large chunk of cash if he was debilitated.
The son ended up taking money so the man removed him from the account and added the new wife so she could get access.
The man dies, the wife gets put in a home 2 weeks later, her kids empty the account (not a small sum) on the same day since her name was on the account.
Does the will or the pre-nup take precedence?
Asking for a friend….
Sent from my iPhone using Tapatalk
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