Michigan Laws 487.719 – Payment of widow’s allowance or allowance for dependent children upon death of person owning deposits in statutory joint account
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 487.719
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Dependent: A person dependent for support upon another.
- Intestate: Dying without leaving a will.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
Upon the death of a person who in his or her lifetime owned the deposits in a statutory joint account, to the extent of the decedent‘s ownership immediately before his or her death, the rights of the owners of the deposits after the death shall be subject to the right of recovery by the estate of the deceased person to the extent that the assets of the estate are insufficient for the payment of the widow’s allowance or allowance for dependent children ordered by a court of competent jurisdiction; or in an intestate estate or where the widow exercised her right to take against the will, the assets of the estate are insufficient for the payment of the widow’s share of the estate if the deposits were included as part of the estate.