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If I have a joint account with my spouse and my spouse passes away, does the remaining funds go in our account go to the surviving spouse or the deceased spouse's decedents?

This very issue was addressed in a recent case by the name of Estate of O'Connor (10-13-17). In this case, the court was discussing if whether the left-over sums in a joint banking account go to the other member signed on to the account or whether they go to the descendants of the person that has passed away. The court decided that if there is no clear evidence of a different intent that the sums belong to the surviving party. If you need assistance prior to your marriage or in a divorce as to how you should hold your accounts, contact attorney Paul Eads today.

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