If the account has been set up as "either/survivor" and "repay to either" then technically there is nothing wrong in one person withdrawing the funds even if the other person is deceased. However to have the account designated a sole account you will need to bring the death cert with you to the bank. Some banks will allow one signatory to withdraw all of the funds in the account but not close the account, even if it is repay either. In order to get the benefit of the interest it is probably better to withdraw the funds in the account the day after it is credited if it is yout intention to collect all of the funds plus interest but not actually close the account. 1c will leave an account open.
What is the situation if one person pays all the money in and then dies. Does the other person get it all and therfeore avoid CAT?
ie if Granny Bloggs puts a million into a joint account and young Fred Bloggs puts nothing in and the account is left untouched until Granny kicks the bucket does Fred get the lot tax free? (By the way I'm not lucky enough to be in that position tax free or not ... just wondering)
My understanding of the situation is that in case of husband and wife the abalance is paid to survivor on production of a Death Cert. In case of a joint account in names other than husband and wife clearance is required from the revenue if the balance is over a certain figure which i cannot recall. Also in these situations the estate of the deceased may write to the bank saying moneys are not to be released and usually court proceedings follow which will decide on the fate of the funds