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Q: In dealing with a joint bank account in Louisiana what does without right of survivor-ship mean?
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If you have a joint bank account and one of the persons on the account dies do you become the sole ower of the account?

It usually depends whether or not it is a joint account with right of survivorship. A joint account which requires the signature of only one of the account holders is usually one with right of survivorship. One where both are required to sign does not usually have right of survivorship. Generally speaking, if it is an account with right of survivorship, things simply continue on as they did before the death of one of the account holders. Without right of survivorship, the account is usually frozen until after probate. But much depends on the actual wording of the account agreement and the practices of the financial institution. There are no clear and definitive specific answers to your general question.


If you put your husbands name on your stock account as right of survivorship can he take money out while you are alive?

If you designate your husband as a joint owner with right of survivorship on your stock account, he would typically have equal rights to access and manage the account while you are alive. This means he can withdraw money from the account. It's important to consider the implications and discuss this decision with your husband and potentially a financial advisor or legal professional.


How do you explain what is without survivorship?

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