I am primary holder on my checking account. The second person recently died. now his family wants the money in the account which is my money. he never put in deposits. do they have right to obtain the money. also their estate attorney obtained a copy of the statement and is calling me wanting proof this is my money

What state are you in? In most states these accounts would be set up Joint Tenants with Rights of Survivorship (JTWROS) which would mean that the money would pass to the remaining owner. That said, there are always other factors. Exactly how is the account styled? Are there only 2 of you on the account? Is this a joint account or an individual account with an authorized signed?

If his family has retained an attorney, you may need to consider an attorney to protect your interest.

They are entitled to do that. It sounds like this was a joint account with each of you having an equal right to deposit and withdraw.

You will need to show why all the money is yours and the joint owner has no claim on it.

Perhaps an explanation of why the other person was on the account with you would be sufficient. Of course having any written agreements betweeen you would be a great help.

Assuming the decedent's "family" does not include a surviving spouse, SoccerMom is correct, it is primarily a matter of state law combined with contract terms. Some states presume a right of survivorship in joint accounts and others presume against a right of survivorship. However, in either case the presumption can be overcome by the language in the signature card you both signed. Obtain a copy of it from the bank and go see an attorney.

If the signature card indicates a right of survivorship exists and there is no tangible evidence of a contrary intention by either party, the funds are yours regardless of who contributed them.

Right of Survivorship does not prevent the family attorney from inquiring, as has happened. Its up to you to now show why the funds are yours by supplying documents to prove that.

This is not something you should be doing on your own. Please seek your own attorney and have them deal with the attorney that has contacted you.

IMO do not send the attorney copies of anything until your council has reviewed them and provided you with facts of what applies in your state based on the language in the banks signature card.

Regardless of what the signature card indicates, the family can still file law suites against you. ( Especially if we are talking some big time dollars in the account) This why I suggest you get professional advice and not handle this yourself.

Similar question. In the state of Illinois, is there a requirement that the survivor has to close the joint account?

There is usually not a requirement that the account be closed. It's often a bank policy or procedure, designed to make a clean separation between the former account and the new one. In most cases, the bank would be delighted to keep the surviving owner as a customer.

Thanks Mr. Burnett. If it is bank policy, can the customer simply say no and leave things as they are?

Not really. If the institution "suggests" the closing of the account and opening a new one, I suppose that the customer can "suggest" that he or she would prefer to go ahead and drop the deceased individual from the account record, but keep the account open. The bank could counter with an offer to "buy back" any old unused checks -- in case the consumer's reluctance to close/open is based on costs.

Ultimately, just as the customer can "walk" if he or she is unhappy with service, the bank can terminate the account relationship, too. There aren't any laws saying a bank MUST accept deposit business from anyone. That means that, effectively, if the bank wishes to be adamant about a policy that requires such an account to be closed, the bank will win the day (but likely lose the customer, I imagine).