A joint bank account to a third party in a will? Well, that’s sort of a contradiction in terms, and that if you set up a joint account with a third party, then that money will pass to the joint holder under Florida law and will not be controlled by the will, so that the will will not control any joint accounts. So that’s why you need to do estate planning so that you can determine what assets are going to pass outside the will and then what is going to be controlled by your will, so the will will not control jointly owned assets, that’s controlled by the bank contract and the Florida statutes, which says the co-owner of a joint account is entitled to the proceeds upon one of the co-owners’ death.
So if you have any questions about this, give me a call at 847-22-88. Thank you.