[WSBARP] Jt with Rt of Survivorship Acct.

[Nicholas Pleasants]

If it is joint tenancy with right of survivorship, the account survives, and will not be disbursed automatically by the bank. JTROS is not the same as a beneficiary designation. Theoretically any child could go and withdraw all of it, although if the intent was for it to be split 5 ways, then the children should request the bank to issue 5 checks (or wire transfer, etc.) for 1/5 of the account to each of them.

Nicholas Pleasants | Shareholder

[OseranHahnAttyatLaw 8]

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Mario Ledesma, Attorney
Sent: Wednesday, March 23, 2022 1:03 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Jt with Rt of Survivorship Acct.

Hello,

I just filed a petition to probate a will.  The personal representative just found out the decedent's bank account, (his mother) has the five children on as joint with right of survivorship.   I expect the bank will disburse the account funds (approximately $300,000) equally between the children.  Actually, I'm surprised the bank has not done it already, the decedent passed away February 14, 2022.   Am I missing something?
Thank you!

Regards,
Mario Ledesma

LEDESMA LAW OFFICES PLLC
Licensed in Washington and Oregon
P. O. Box 1305
Richland, Washington 99352
Tel: 509.946.1248
Ledesmalawoffice at aol.com<mailto:Ledesmalawoffice at aol.com>

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