Joint Bank Account and query if probate necessary to release funds.

A friend of mine had a joint bank account with her mother in law whom she was minding for the past 7 years.The mother in law has now died and the bank are refusing to release the proceeds of the bank account without the consent of the womans family.I thought a joint account holder automatically owned the account on the death of the other person.Can any one tell me the position.

Yes, this happened to me in a similar situation. A relatively small amount will be signed over to the remaining account holder but if it's a large balance, i.e. >€31k then they may seek probate. Could someone please correct this if I'm wrong. Slim

I forgot to mention in my original post that there was no will made as she owned no property and she intended that any money in the account would go do the joint account holder.

The answer to who owns the money in a joint account on the death of one of the account holders is "it depends". It depends on a few things: the amount in the account, the reason it was put into joint names, the relationship between the account holders etc.

So for example I manage finances for my v elderly mother and have her accounts in joint names with me so that I can do the necessary for looking after her as she is too old and frail to manage her affairs and pay her bills. When she passes on I will not own the money in the account - and if I tried to claim it my siblings would be extremely unhappy! I should also say that if I asked my Mum now if she wanted me to have it she would probably say "yes". But that would be because she is frail and dependent and I wouldn't dream of relying on it to claim. I just give this as an example.

Another example would be an elderly married couple with all accounts in joint names and no complications like previous partners, litigating children etc. In that case the money - if it were small - would pass to the joint account holder though if it were large the bank would still require probate.

In the case you give it seems right that the family of the deceased would have to give consent unless there is something in writing.

Thanks for replies;My question seems to be answered.Can I take it so that that the other account owner is not entitled to anything as she is not a direct relative

Not necessarily.

As I said above "it depends". No one can answer your question definitively without knowing all the circumstances. Your friend should consult a legal advisor if she can't sort it out with the family.

I think clearance from the Revenue is required in case of Joint Acounts not in the names of married couples.

How did the bank know of your Mothers demise? If you are a joint a/c holder with the a/c set up 1 signature withdrawal then surely you can withdraw any amount/frequency without a problem?

Often joint bank accounts are 'payable to either or to survivor' and technically this means a 'joint tenancy' as in survivor takes all. Will is irrelevant here. Could be 'gifting' implications but thats where you start.