What happens to joint deposit accounts?
If the deceased is the holder of a deposit account jointly with one or more others, the deceased’s name will be removed from the account once an original certified copy of the Death Certificate is provided. The account continues in the name(s) of the surviving account owner(s) and is not part of the Estate of the deceased.
Under the laws of survivorship, on the death of the joint account holder, the account belongs to the surviving account owner(s).
It is important to note that funds held in joint accounts generally will not form part of the estate and as such can continue to be operated by the surviving account owner(s).
Note: Grant of Probate or Grant of Letters of Administration is not required in relation to joint accounts.