[WSBAPT] Joint bank accounts and survival requirement

John J. Sullivan sullaw at comcast.net
Tue Dec 8 10:25:56 PST 2020


I would start with the contractual provisions of the account. 

John J. Sullivan

Sent from my iPhone

> On Dec 8, 2020, at 10:21 AM, Allen Draher <allen at draherlaw.com> wrote:
> 
> 
> 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
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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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