In a joint account .. when one part dies .. can the other part uses the account ? if not what to wait for ?

Question

The joint account is made in a UK bank ..........

Answer 1

In the Uk Yes.

If one party to a joint account dies, the account will become the sole property of the surviving party.

Call into the Bank with the death certificate and they will complete a deceased customer document with you. The account will remain open and active and will convert into the survivng parties name only.

Answer 2

I would have thought so as it's a joint account but inform your bank. There are generally only problems is a sole account holder dies as the bank puts an automatic freeze on the account so no funds can be withdrawn. I doubt this would apply to a joint account but to be honest, I don't know for sure. Better to call you branch and check.

Answer 3

In the US a joint account is typically joint with right of survivorship which means that upon the death of either of the joint owner(s) the survivor(s) becomes the sole owner of the account and the account remains open. In order to remove the deceased joint owner(s) a death certificate is required in the U.S. This does not necessarily mean that in the eyes of the law that the funds automatically are owned by the survivor (beneficiaries of the deceased could make a cliam on the funds)...however, the bank will treat the funds as owned by the surviving owner as it will not make any legal determination as to the rightful owner of the funds unless directed to take some action via a court order.

Answer 4

The joint account will become a sole account and the surviving party can continue to use the account without an problems.

Answer 5

Yes you can use it but you must inform the bank! They will then stop any standing orders or other payments that are only in the deceased name. They will also advise you on anything else you need to know about and if there are any other accounts in the persons name. These will be frozen until after probate if there is a will or till you can prove you are the next of kin.

Answer 6

Smartest way around this is to go immediately to the bank and withdrawl all available funds. If you need to set up a different account (I'd go to a different bank). Then when you get a copy of the death certificate, go to the bank and close the account. This is what we did when my grandmother passed away and had no problems at all. God Bless and sorry to hear of your loss.

Answer 7

Inform the bank what's happened,you can still use the account.

Answer 8

Hi, I work for LTSB and yes you can still use the account you need to make an appointment to see your bank they will then remove the other name and order a new cheque book for you ect....

Answer 9

You will need to inform the bank that one of the account holders has passed away and they will then advise you of the correct procedure.

Answer 10

if your a signer on the account you can do what ever you want with the money and it does not matter if the person is dead or alive. its all you.