My brother and I have a joint account, what happens to the money if he dies? 9 Answers as of June 10, 2011

If I have a joint checking account with my brother and he dies, who gets to collect? The kids are the beneficiaries under the will.

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Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
Joint Tenancy is legally 100% Ownership by two or more people. You own 100% of the Bank Account and so does your Brother. If your brother dies, you already own 100% of the Bank Account and you are entitled to the full amount. If you die, your Brother already owns 100% of the Bank Account and he is entitled to the full amount.
Answer Applies to: New Hampshire
Replied: 6/10/2011
Law Offices of Timothy G. Kearney, LLC
Law Offices of Timothy G. Kearney, LLC | Timothy G. Kearney
A joint bank account applies that the money is held in survivorship. You would get the money in the event of his death. The kids would not inherit per the will as the money would pass outside of the estate.
Answer Applies to: Connecticut
Replied: 6/10/2011
Theodore W. Robinson, P.C.
Theodore W. Robinson, P.C. | Theodore W. Robinson
If it's a joint account, you get the money by operation of law and that is not affected by the terms of the Will. Good luck.
Answer Applies to: New York
Replied: 6/9/2011
The Schreiber Law Firm
The Schreiber Law Firm | Jeffrey D. Schreiber
It depends on what you mean by "joint account". If the account is "joint tenants" or "joint tenants with rights of survivorship" then at the death of the first owner, the surviving owner is the sole owner of the account. It does not pass through probate, so none of his heirs would have any right to the money.
Answer Applies to: California
Replied: 6/9/2011
Apple Law Firm PLLC
Apple Law Firm PLLC | David Goldman
if you are joint owners and one dies, the funds belong to the other regardless of what is stated in a Will.
Answer Applies to: Florida
Replied: 6/9/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    Joint accounts do not pass under a will. They belong to the survivor.
    Answer Applies to: Georgia
    Replied: 6/9/2011
    Meyer & Yee, LLP
    Meyer & Yee, LLP | Kent W. Meyer
    Jointly owned property does not pass by will. It goes to the surviving joint tenant. It will require certain actions for the transfer to legally occur.
    Answer Applies to: California
    Replied: 6/9/2011
    Law Offices of Mark Lewis & Associates, PC
    Law Offices of Mark Lewis & Associates, PC | Andrew C. Spitler
    With a joint checking account having two owners (not husband and wife), upon the death of either owner the balance of the checking account will belong to the survivor. Upon the death of the survivor the named beneficiaries on the account will receive any remaining balance. Note that the survivor can change the beneficiaries on the account after the death of the first owner.
    Answer Applies to: Arizona
    Replied: 6/9/2011
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