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Drew Blankenship

Your Parent Dies With Money in a Joint Bank Account — Who Actually Gets It?

joint bank account inheritance
Money in a parent’s joint bank account doesn’t always get divided according to their will. Survivorship rights, account agreements, and state inheritance laws can determine whether one surviving account holder receives the entire balance. Nenad Cavoski/Shutterstock

Imagine your mother passes away with $75,000 sitting in a joint bank account that has both her name and yours on it. You assume the money automatically belongs to you because you’ve been helping manage her finances for years. But your siblings believe the balance should be divided equally among everyone named in her will.

Who’s actually entitled to the money?

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