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Wills, trusts and probate news
Deathbed wills law needs change
7 February 2012
Man loses battle over 70,000 pound will
6 February 2012
Two thirds of Britons 'don't have a will'
1 February 2012
B P Collins joins forces with Fairchild Dobbs
31 January 2012
Unmarried partners should inherit estate, says Law Commission
19 December 2011
Daughters lose 4 million pound will court case
16 December 2011
Joint bank accounts 'not equally shared'
12 August 2010
Opening a joint bank account does not automatically entitle both parties to half of the money stored within it, the case of Northall v Northall has identified. The case saw 78-year-old Mrs Northall open an account with her son, who then believed he was entitled to make withdrawals as he pleased, despite contributing no money of his own, the Solicitors Journal revealed.
Mrs Northall died a month after the financial arrangement was set up, so her executors demanded that any withdrawals made should be accounted for, as should any leftover cash. Following a High Court ruling, it became evident that Mrs Northall had made no indication that her son should be left in charge of the money in the account after her death.
Any payments found to have been made without the authority of Mrs Northall were ordered to be returned to her estate.
Craig Williams, practice group leader, comments: "This highlights the importance of ensuring executors are properly advised on estate administration after the death of an individual."
Posted by Craig Williams
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