[WSBARP] Jt with Rt of Survivorship Acct.

Kary Krismer Krismer at comcast.net
Thu Mar 24 10:10:34 PDT 2022


Thank you.  I was unaware of that statute.

Kary L. Krismer
206 723-2148

On 3/24/2022 10:00 AM, Nicholas Pleasants wrote:
>
> The presumption is that the funds are owned equally. RCW 
> 30A.22.100(3). I think there is a cause of action against the child 
> who unilaterally withdraws all of it if that was not the decedent’s 
> intent.
>
> Best,
>
> Nick
>
> *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: 
> npleasants at ohswlaw.com
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> *From:* wsbarp-bounces at lists.wsbarppt.com 
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *Kary Krismer
> *Sent:* Thursday, March 24, 2022 6:01 AM
> *To:* wsbarp at lists.wsbarppt.com
> *Subject:* Re: [WSBARP] Jt with Rt of Survivorship Acct.
>
> 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:
>     npleasants at ohswlaw.com
>
>     CONFIDENTIALITY NOTE: This e-mail message contains information
>     belonging to the law firm of Oseran Hahn, P.S., which may be
>     privileged, confidential and/or protected from disclosure. The
>     information is intended only for the use of the individual or
>     entity named above. If you think that you have received this
>     message in error, please e-mail the sender. If you are not the
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>
>     *From:* wsbarp-bounces at lists.wsbarppt.com
>     <wsbarp-bounces at lists.wsbarppt.com>
>     <mailto: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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