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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?

The aspect of "right of survivorship" is irrelevant to this question. The right to take money out of the account is what is called a "present interest". The present interest means ownership of the property right now. The right of survivorship a type of "future interest". The future interest is what happens to the property in the future after one of the joint owners dies. Right of survivorship is a feature of one of several types of joint ownership. Other types of joint ownership are tenancies in common and tenancies by the entirety. Whether the joint ownership is with right of survivorship, in common or by the entirety. It makes no difference which kind of joint ownership the property is if you want to know if your husband can take out money while you are alive. As long as the account is in any form of joint ownership, he would be able to take money out while you are alive, because you both own the present interest jointly. For stock accounts it may be possible to modify the ownership rights as to the present interest by specifying in the account contract that he does not have the power to take money out without your consent even though he is a joint owner of the present interest. In addition, jointly owned accounts frequently provide that money cannot be taken out by one person alone; that both owners must sign checks and withdrawal slips. So just keep in mind that "right of survivorship" means nothing as to the present right to take money out of any account other than the fact that it is sometimes a feature of joint ownership


How do you explain what is without survivorship?

The insects with pesticide-resistant traits survived and reproduced. do study island u scrub


Can you buy a motorcycle in Louisiana without a dl?

Can you purchase a motor vehicle in Louisiana without a valid drivers license


Can you drive without doors on a jeep in Louisiana and or Texas with both outside mirrors?

is it illegal to drive without door in louisiana


Can your parent's home be sold if they have a survivorship deed and both are still living?

No, the property cannot be sold without the consent of both parents on the survivorship deed. The survivorship deed means that the property automatically passes to the surviving parent upon the other's death, but both parents must agree to any sale during their lifetimes.


Can you pawn a gun without registration in Louisiana?

Louisiana doesn't have gun registration to begin with.


What is a 6E survivorship exempt?

A 6E survivorship exemption refers to a tax provision that allows the transfer of property between a husband and wife without incurring gift or estate tax. This provision applies only if both spouses are U.S. citizens. It essentially allows married couples to transfer assets to each other without tax consequences.


How much is a driving without headlights on at night ticket cost in Louisiana?

no headlights driving cost in louisiana


Any stations in Louisiana without ethanol?

Plenty of them


Is it possible to direct deposit into an account without my name?

No, it is generally not possible to direct deposit into an account without the account holder's name on it.


If a house is bought by two people father and daughter and stipulates that the daughter has the right to survivorship can the father sell the house without her knowledge?

Not if the title has been worded and filed in the county land recorder's office where the property is located. The wording would be "John_____ and Mary____ as Joint Tenants With Rights Of Survivorship".