If I have a joint bank checking account with someone who is not my spouse, will the joint holder be entitled to the total proceeds of the account if I should die?
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If I have a joint bank checking account with someone who is not my spouse, will the joint holder be entitled to the total proceeds of the account if I should die?
Asked on May 18, 2012 under Estate Planning, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Generally speaking, if you hold the accounts as joint tenants then there is a right of survivorship in the proceeds. So yes, they will pass automatically upon your death to the other person. If that is not what you wish then you should speak with the bank or an attorney. Good luck.
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