Joint accounts with survivorship pass to the survivor by operation of law. Disputes contest whether the depositor intended a gift or merely convenience, and many states apply a presumption favoring survivorship rebuttable by clear evidence.
Convenience account statutes address the issue in some states.
Alternative Names:
Survivorship Account Dispute|Joint Tenancy Account Claim
Why it Matters?
Convenience account theories are how estates recover funds from a survivor added for bill-paying assistance rather than as a beneficiary, and evidence that the added party never contributed funds, the addition occurred during declining health, and the depositor's estate plan contradicted the result supports rebuttal. Financial institution signature card language stating survivorship intent is the principal obstacle.
Frequently Confused with
Related terms
Frequently asked questions
How do estates recover joint account funds?
What is the principal obstacle?
