Legal Question in Wills and Trusts in Canada
Joint Bank Accounts
My wife and I have joint bank accounts. If one of us dies does the surviving spouse have access to that bank account with no restrictions? Does the bank have to be notified immediately? Thank you.
Asked on 2/19/04, 10:50 pm
1 Answer from Attorneys
Johanne Amonson
Johanne L Amonson, Q.C. Prof Corp
Re: Joint Bank Accounts
There are 2 kinds of joint bank account--if yours are shown at the bank as accounts with right of survivorship then there should be no difficulty with the survivor of the 2 owners having continuing access to the accounts after a death. The bank does not necessarily have to be advised of the death since with these types of accounts either account-holder/ owner has access to everything in the account at any time .
Answered on 2/19/04, 11:03 pm
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