[WSBAPT] Joint bank accounts and survival requirement

[Jennifer Johnson]

Good morning all,

 

I have a quick question about joint bank accounts and minimum survival requirements:

 

RCW 30A.22.100(3) provides that funds belonging to a deceased depositor which remain on deposit in a joint account with right of survivorship belong to the surviving depositor(s).  But does “surviving” mean that the remaining depositor survived the deceased depositor by 120 hours pursuant to RCW 11.05A.040?

 

I have not had the opportunity to deal with the simultaneous death act until now, and I guess I’ve always operated under the assumption that funds in a joint account with right of survivorship vest immediately in a co-owner upon the passing of the deceased depositor.  

 

I appreciate any assistance in advance, thank you!

 

Jennifer

 

Jennifer M. Johnson

Attorney

Hanigan Law Office, PS

PO Box 39 - 68 Main Street

Cathlamet, WA 98612

(360) 795-3494

(360) 795-3001 (f)

 

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