[WSBARP] Jt with Rt of Survivorship Acct.

[Kary Krismer]

I would agree with this answer, but go further and say that one of the 
survivors could likely withdraw all the funds, possibly without the 
others having a remedy.  I'm not sure that intent, now matter how 
expressed, is enforceable.

BTW, I think by default bank accounts are joint with rights of 
survivorship.  Banks don't want to be drawn into issues over when 
account holders can withdraw funds.

Kary L. Krismer
206 723-2148

On 3/23/2022 4:01 PM, Nicholas Pleasants wrote:
>
> 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
>
> 11225 SE 6^th Street | Suite 100 | Bellevue, WA 98004
> Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: 
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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
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