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I have a joint bank account with sub accounts with a cd that is payable to a third party (not a joint owner) as pod. When 1 joint owner dies, should the pod be paid now or only when both joint owners dies? This is in Maryland.

Submitted: 275 days and 21 hours ago.

Category: Estate Law

Value: $15

Status: AWAITING EXPERT REPLY

Maryland

Already Tried:
nothing

Accepted Answer

hi

as a joint holder, the money automatically goes to that person. the third party would only get distribution upon the death of all joint holders - as it is a right of survivorship to the joint holder -

Accepts:
Expert:	Samuel-II
Pos. Feedback:	100.0 %
Answered:	2/20/2009

Attorney

experienced in facets of estates and trusts

275 days and 21 hours ago.

Reply

thank you that is just what i thought.

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Estate Law

Have your own Estate Law question?

Question

I have a joint bank account with sub accounts with a cd that is payable to a third party (not a joint owner) as pod. When 1 joint owner dies, should the pod be paid now or only when both joint owners dies? This is in Maryland.

Optional Information

Maryland Already Tried: nothing

Accepted Answer

hi as a joint holder, the money automatically goes to that person. the third party would only get distribution upon the death of all joint holders - as it is a right of survivorship to the joint holder -

Reply

thank you that is just what i thought.

Related Estate Law Questions

Maryland

Already Tried:
nothing

hi

as a joint holder, the money automatically goes to that person. the third party would only get distribution upon the death of all joint holders - as it is a right of survivorship to the joint holder -