Implications at Death

• When one joint account holder dies, the remaining owner becomes the sole owner of their joint account. According to the common law doctrine of joint ownership with the right of survivorship, each joint owner has an undivided and equal right to withdraw funds within the joint account. As such, joint owners do not have a right to pass funds within their joint accounts through probate. At one joint account owner's death, the funds within the joint account pass to the other owner.