Question Details: My father-in-law passed last year and had my husband listed as beneficiary of all his IRA accounts. He also had he and my husband's names on his checking and savings accounts. His Will states that his estate is to be divided 60/40; my husband gets the 60% and his brother the 40%. However, his brother seems to think the IRA accounts are a part of that 60/40. We have been told by 2 different attorneys that these belong to my husband and they are his to do with what he wants to. Is that the case?
Any jointly owned account is the property of the surviving owner; it is not considered a part of the deceased's estate. In other words, it is no subject to probate. Bottom line, the IRA as well as the bank accounts go solely to your husband. What he chooses to share or not share with his brother is up to him.
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