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My grandmother had a joint bank CD payable to her at the

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death of my uncle. my...
my grandmother had a joint bank CD payable to her at the death of my uncle. my grandmother died first and then my uncle died . my grandmother left a will and estate my uncle had no will,does the money belong to my grandmothers estate now or not?
Submitted: 2 years ago.Category: Estate Law
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Answered in 8 minutes by:
11/9/2015
Estate Lawyer: Richard, Attorney replied 2 years ago
Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 56,025
Experience: 29 years of experience practicing law, including tax and estate planning.
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Good evening. My name is ***** ***** I look forward to helping you.

If this was a jointly owned CD, then it vests automatically in the surviving owner. So, if your grandmother died first, ownership would have vested in your uncle. If the CD was owned by your uncle with your grandmother as the beneficiary of the CD with no contingent beneficiaries, then since your grandmother was not alive when your uncle died, it would vest in your uncle's estate when he died. Either way, the CD would be inherited by your uncle's beneficiaries under the intestate succession laws of Texas since he died with no will. If your uncle had no surviving spouse, the CD would be inherited in the following priorities under the Texas Estates Code:

"Where any person, having title to any estate, real, personal or mixed, shall die intestate, leaving no husband or wife, it shall descend and pass in parcenary to his kindred, male and female, in the following course:

1. To his children and their descendants.

2. If there be no children nor their descendants, then to his father and mother, in equal portions. But if only the father or mother survive the intestate, then his estate shall be divided into two equal portions, one of which shall pass to such survivor, and the other half shall pass to the brothers and sisters of the deceased, and to their descendants; but if there be none such, then the whole estate shall be inherited by the surviving father or mother.

3. If there be neither father nor mother, then the whole of such estate shall pass to the brothers and sisters of the intestate, and to their descendants.

4. If there be none of the kindred aforesaid, then the inheritance shall be divided into two moieties, one of which shall go to the paternal and the other to the maternal kindred, in the following course: To the grandfather and grandmother in equal portions, but if only one of these be living, then the estate shall be divided into two equal parts, one of which shall go to such survivor, and the other shall go to the descendant or descendants of such deceased grandfather or grandmother. If there be no such descendants, then the whole estate shall be inherited by the surviving grandfather or grandmother. If there be no surviving grandfather or grandmother, then the whole of such estate shall go to their descendants, and so on without end, passing in like manner to the nearest lineal ancestors and their descendants."

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Richard
Richard, Attorney
Category: Estate Law
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Experience: 29 years of experience practicing law, including tax and estate planning.

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