In the case of a joint accountdeposit, will a co-depositor be allowed to withdraw even after the death of his co-depositor?
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In most cases, a joint account is established with rights of survivorship. That means the surviving co-owners take ownership rights, and that includes the right to withdraw from the account.
Some joint accounts do not include the right of survivorship. In those cases, the portion of the account deemed to have belonged to the deceased joint owner becomes part of his or her estate, and is not available for withdrawal by the surviving co-owner. However, the surviving co-owners retain the right to the remainder of the account.
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In most cases, a joint account is established with rights of survivorship. That means the surviving co-owners take ownership rights, and that includes the right to withdraw from the account.
