# Joint account savings not in will



## hdaly (5 Aug 2009)

Hi i would like some assistance with the following question

My mother and i have a joint savings account. Her savings she wants me to have when she dies. She has not written this in her will. If her husband (still married) suvives is he entitled to this money because it is not willed to me? I am her daughter? 

Thanks


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## Marathon Man (5 Aug 2009)

The contents of joint accounts go to the survivor on death. It is a JOINT account - you own it also! My own mother had one of these for each of her children, including me, who were still in school/college when she died.  Didn't form part of her estate.


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## mf1 (5 Aug 2009)

It depends on the reason that the account is held jointly. If it was for convenience only, and the money belongs to the mother, then there is a strong argument that, on her death,  it does not pass to the other joint owner but should form part of the estate. 

Simple solution. If there is likely to be an upset, then Mother makes a new will and specifically leaves the money in the joint account to the other joint owner.

mf


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## dewdrop (5 Aug 2009)

I think joint accounts not in the names of husband and wife will require clearance from revenue if over some figure which i cannot recall on death of one of the parties.


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## Marathon Man (6 Aug 2009)

mf1 said:


> It depends on the reason that the account is held jointly. If it was for convenience only, and the money belongs to the mother, then there is a strong argument that, on her death, it does not pass to the other joint owner but should form part of the estate.
> 
> Simple solution. If there is likely to be an upset, then Mother makes a new will and specifically leaves the money in the joint account to the other joint owner.
> 
> mf


 
Came across this item - bit dated - and this (same case referenced) which back up your take.

[broken link removed]on Northern Rock's site has the following info:

*"Death of an Account Holder*

If an Account Holder dies and the Account is in joint names the Account will be transferred into the name of the survivor if the balance of the Account is less than €31,750. In cases where the balance of the account exceeds €31,750 the Account will not be released to the survivor unless and until the survivor provides a Capital Acquisitions Tax Clearance Certificate from the Revenue Commissioners. In all cases, the survivor must provide satisfactory evidence of entitlement to the Account."

I learnt a lot following up on MF1 & dewdrop's posts. Thanks!


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## hdaly (6 Aug 2009)

Thanks to all of you for your replies. They have been most helpful. This is more of a mine field that i expected!! I thought this would be a straight forward situation. 
This account was opened up for convenience and just to save a little bit of extra money. I didnt think there would be issues when she passed on (or I)

Thanks again


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