 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
You will need to review the language used when the account was opened. This is sometimes located on the signature card; it is in the fine print. State law also needs to be consulted. My experience has been that a joint account is established 'as a joint tenancy with right of survivorship', which means that the survivor of an account owns all of it after the death of the joint account owner. However, this may be just a legal presumption that can be overcome with other evidence (by contract, fraud, course of business). But as far as the bank is concerned, it can deal with the survivor and let third parties fight it out in court.
|
||||
|
||||
|
There are various types of joint accounts, many are done in a way to allow the other person to be sole owner of the account at death, others do not. So how is your account set up.
Also if someone believes there is an issue, they can try and get a court order to freeze it, till there is a hearing ** this would depend on the state, and the judge |
||||
|
||||
|
When opening a joint account, most signature cards require you to select with or without survivorship.
If with survivorship is selected, the ownership of the account automatically shifts to the surviving party. If no survivorship is selected, then the ownership of the account and the money within it is determined by a will, if existing, or by probate. The best thing to do is contact your bank directly. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
My mother and her boyfriend of 25 years had a joint checking account in his and her name only. He past away and his kids and the estate want 1/2 of the funds. Also he never got divorced from his first wife. This is in the state of Wisconsin. Do the kids have any rights to the monies?
Today, a levy was placed on the joint account of myself and my wife, for a debt she had from a credit card company. Once I found out, I called her and had her call the lawyer, who then told her to dispute it, she would have to send a certified letter to the court, as well as the plaintiff, as to...
Can a joint bank account be garnished in Ga when a judgement is against only one party? It's a husband and wife personal checking account.
I realized that with Citibank, the a joint account is subject to Garnishment. Is that the case with all Banks?
My husband has an old debt and we have a joint checking account. I went to the bank to question them why my ATM card wasn't working and they told me that a lien was placed on the account. First of all, is this legal? What happens now? Can they take the money from a joint account? I am the primary...
View more questions Search
|
