Other Non probate items

Question 1

Joint Bank accounts

Answer 1

Are presumed to be a survivorship account unless there is clear and convincing evidence to the contrary

Question 2

Paid on death accounts

Answer 2

On the death of the account owner, the a balance becomes to the P.O.D payees.

Distribution of POD cannot be changed by will

Question 3

Uniform Transfers to Minors Act

Answer 3

A gift to a custodial for a minor creates a statutory trust, the custodian becomes the trustee and manages the assets for the minor’s benefits