I am currently Durable P.O.A. over my grandmothers finances...in the event she passes she has verbally expressed her wishes in I having her money (video proof) other than her 4 children....her Will does express that I being her Personal Representative am to divide equally her assets .......but if she were to put me on her account (joint) would they still be entitled to any money....P.S. she signed the formed today for me be on her account but her State ID is expired as of 2010 and shes not able to go get another one b/c of medical reasons...that shouldnt hinder the process will it? Thank You in advance.
State/Country relating to question: Michigan
Hi - my name is XXXXX XXXXX X'm an Estate Law attorney here to assist you.
First, her verbal wishes - even if videotaped - will not trump the terms of the will. So, if the will says that her assets go to her children, that is what will happen.
However, if your grandmother modifies her account to make you an joint tenant with full rights of survivorship, any money in that particular account will go to you immediately upon her death and would not be a part of her estate and would not be divisible between her heirs. Thus, any disbursement under her will would not include this account because it is not part of her estate.
The only thing you need to be mindful of is that your grandmother must be of sound mind to make this change. If she has a mental issue or incapacity, it would make the change void IF challenged by her heirs. This is so because a person who is mentally incompetent cannot legally execute a legal document.
Also, the fact that her state issued license has expired should not have anything to do with her ability to make a change to her account.
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