[WSBAPT] jtwros account intended to go to multiple kids

[Krista MacLaren]

Hi Listmates,

I have a potential client whose mother died.  No Will, no real estate, only non-probate accounts.  There are two children of decedent - client and sibling.  For convenience, Mom made client a joint owner on her investment accounts, held JTWROS.  This is the bulk of the estate, nearly $500,000.  Client ntends to pay his sister her half, but i am wondering how he should do that.  We don’t want him to have to gift the money to sister.  If he disclaims half, then would a probate be required because it would then be in the estate?  What is the best way to handle this situation?  I have never handled this for such a large account.

Thank you!

Krista J. MacLaren
Attorney at Law
9725 3rd Ave NE, Suite 600
Seattle, WA 98115
(206) 523-6116