Non-probate assets such as joint accounts are frequently the subject of litigation, usually after an account owner dies. Yet little if any thought is given when a depositor opens an account or changes the title.
Usually bank accounts are opened or modified following a routine exchange with a bank employee and not an attorney. These accounts are fraught with potential problems. Inconsistencies in various bodies of law abound, leaving a playing field rife with opportunity for post-death disputes, many of which are not worthy of the assets involved. This article focuses on the pitfalls of non-probate banking products that await the unwary.
