[WSBAPT] Joint bank accounts and survival requirement

[Allen Draher]

Jennifer,  I think that is a good question.  I also thought as you did, but reading 11.05A it seems it would be divided between the two account holders’ successors.  Interested in others’ opinions.  Allen

Allen Draher

Law Office of Allen Draher, PLLC
9108 Fauntleroy Way S.W.
Seattle, WA 98136-2617

ph   206-484-8212
allen at draherlaw.com<mailto:allen at draherlaw.com>

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jennifer Johnson
Sent: Tuesday, December 8, 2020 9:10 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Joint bank accounts and survival requirement

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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