I have a joint account with someone who died. What happens now?
It depends on the account agreement and state law.
Broadly speaking, if the account has what is termed the “right of survivorship,” all the funds pass directly to the surviving owner. If not, the share of the account belonging to the deceased owner is distributed through his or her estate.
Still have questions about bank accounts and services?
Whether you’re choosing or using bank or credit union accounts, here are resources to help you understand your options.