My wife, I, and my married daughter have a checking account?

Question

If anything happens to us will her husband be entitled to money in the account.

Answer 1

If it is not specified anywhere else - then the rules of probate would apply - her husband, her kids and any other kids you have would probably be the beneficiaries of the account.

Answer 2

Probably. I'm not sure.  But I think that it is pretty odd that you three have an account together.  I've heard of joint accounts between a husband and wife, but never an account with a couple and their married daughter.  Get out of that situation immediately and tell you grown daughter that she needs to let her husband support you and you will not do it anymore.

Answer 3

State law varies on this one.  But chances are he will ended up with some portion of the money if all of you are gone at the same time.

The best way to determine who the money should such event occurs is to designate beneficiary with your bank.  There is no charge.  All you have to do is to obtain a form from your bank, fill it out, all three of you have to sign before giving the form back to them.  

You may want to periodically review and possibly change beneficiary, for example a birth of new grand child.

Best wishes.