Joint accounts

[chicago]

I have a couple of joint an Post accounts with my mother.In the event of one person passing away does the account automatically pass on to the other person.Many thanks....

 

[WizardDr]

@chicago
If the conditions say 'Payable to either or survivor' then its viewed usually in law as a joint tenancy - and goes to survivor and is not part of the estate. But this is not always the case.

 

[dewdrop]

If the intention is that the survivor is to become full owner then it passes to survivor but i think in the case of non married couples revenue clearance is required if over a certain figure. Sometimes relatives of the deceased may contest that it was not a joint tenancy and that the other name was merely added for convenience of withdrawal.