Joint Account Survivorship Rights

Summary

The wording of a joint account in trinidad and tobago affects survivorship rights. Suryaa or alana implies the surviving party retains funds, while suryaa and alana may involve the deceaseds estate. Consult a legal professional or bank for specific guidance.

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if you have a joint account at a bank in trinidad and one person dies the funds automatically go the the next person and does not form part of the estate. Does it matter if the account is **** and Alana .. as opposed to **** or Alana in terms of it forming part of the estate if Alana dies
In Trinidad and Tobago, the wording of a joint account matters.
- "**** or Alana": Typically means either party can access funds, and upon death, the surviving party usually retains full rights.
- "**** and Alana": Generally requires both parties to act jointly, potentially involving the deceased's estate.
It's advisable to confirm with the bank or consult a legal professional.
do you have Case law backing this up
While I don't have specific case law to cite, the principles regarding joint accounts in Trinidad and Tobago typically follow these guidelines:
- "**** or Alana": Survivorship rights are often implied, meaning the surviving account holder retains access and ownership of the funds.
- "**** and Alana": May require joint action, possibly involving the deceased's estate.
Consulting with a legal professional or reviewing the bank's terms can provide more detailed guidance.