Q: My mom, who is divorced, didn’t name any beneficiaries on the only bank account she owned when she died. Can my siblings collect the money without probate?

On Behalf of | Jan 13, 2021 | Estate Planning, Q&A, Trust And Estate Administration |

A: The answer depends on how much money was in the account! If the amount is under $166,250, then yes, you can most likely submit to the bank what we call a “Small Estate Affidavit” to collect the proceeds. Remember, if there is a will that states who the account beneficiary is/are, then that person(s) will be entitled to the money. If, however, your mom didn’t have a will, then you and your siblings will all equally be the beneficiaries of the account.

If you have any questions about this, please feel free to reach out to us (707-681-5851 or [email protected]) or set up a complimentary consultation at your convenience by clicking on the following link: https://MyNapaLawyer.as.me/