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Joint accounts question

Upthewalls1 · 2024-02-22 14:03:34

If 2 people have a joint account, not husband and wife, but brother and sister or mother and son, what happens if one passes away? With married people I assume the account just then goes into the remaining persons name but is this the same for other relationships?

22-02-2024 2:03pm

#1

Upthewalls1

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Join Date: November 2018

Posts: 12

If 2 people have a joint account, not husband and wife, but brother and sister or mother and son, what happens if one passes away? With married people I assume the account just then goes into the remaining persons name but is this the same for other relationships?

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#2 22-02-2024 2:20pm

coylemj

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This Q&A from the Irish Times in 2020 might help. What you said about a married couple appears to be correct - most banks will assume that the survivor is entitled to the money but that will not necessarily be the case if the account holders are not married.
Usual caveat applies - not all of the banks may have the same policy in this area.
Joint accounts: if one of us dies, can the other access the money?
https://www.irishtimes.com/business/personal-finance/joint-accounts-if-one-of-us-dies-can-the-other-access-the-money-1.4262135

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