[WSBARP] relationship of community property agreement and JTWROS account with non spouse as joint owner

[Cyrus Field]

True but perhaps surviving spouse could get appointed ASAP as PR (they'd
have preference as PR over the CP) and then spouse/PR could give notice  to
Bank similar to under the Super Will statute? Never done it but I'd be
surprised if Bank didn't freeze the JT account at that point.


Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon)
phone: 360-472-1223 Mail: POB 367, Shaw Island, WA 98286 Office: 640 Mullis
St. Friday Harbor, WA
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-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of Kary Krismer
Sent: Tuesday, January 26, 2021 3:11 PM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] relationship of community property agreement and
JTWROS account with non spouse as joint owner

The last part, about what the bank will do, is my understanding too.

Kary L. Krismer
206 723-2148

On 1/26/2021 2:47 PM, Stephen Brandli wrote:
> My understanding:
>
> Under the banking statutes, while the joint tenants are living, funds in
the account are owned by the person who deposited the funds.  If the spouse
is an owner of funds, and if the community property agreement is written
generally ("all assets owned by either party or both of them"), then the
character of the funds owned by the spouse would be community property.
However, the bank would not recognize the other spouse's management rights
over those funds.
>
> 	Steve
>
> -----Original Message-----
> From: wsbarp-bounces at lists.wsbarppt.com
<wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Douglas Owens
> Sent: Tuesday, January 26, 2021 2:30 PM
> To: wsbarp at lists.wsbarppt.com
> Subject: [WSBARP] relationship of community property agreement and JTWROS
account with non spouse as joint owner
>
> Dear Listmates, I have clients who have a community property agreement and
also have deposit accounts that are JTWROS/TOD with a person other than the
spouse as joint owner.  Does the CP agreement preempt the JTWROS/TOD
ownership provision of the deposit agreement, or vice versa?  Thanks for any
assistance.  Yours truly, Doug Owens
>
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