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Joint Accounts.
I have a current a/c & also a joint a/c with another person. On my death, do the monies in the joint a/c form part of my estate?
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you have the right idea about minimising tax by arranging your affairs
it is just you asked us without the info - quite right!
and corbo is right saying you should seek professional advice
the best things in life are NOT free
advice you can understand or you think it good
may still NOT be the correct advice
Mitchell is about income tax and is not relevant to your situation but is an interesting read in itself
Northall reigns !
and as Chris who used to be a will writer might ask
you have made a will havent you?
it is just you asked us without the info - quite right!
and corbo is right saying you should seek professional advice
the best things in life are NOT free
advice you can understand or you think it good
may still NOT be the correct advice
Mitchell is about income tax and is not relevant to your situation but is an interesting read in itself
Northall reigns !
and as Chris who used to be a will writer might ask
you have made a will havent you?
Sire.....There are folk in this thread who are complicating matters with issues that cannot arise until after you have died.
Wills can be disputed and Court cases do arise over them. However, I don't think you wanted to consider disputes that could arise. You wanted to know who is legally entitled to all money remaining in your joint account.
You have said.../" All I wanted was a simple answer in words of one syllable that I could understand; not a lot of legal jargon."/
Accordingly, I suggest you look no further than what was said by Aunt PG; in the very first response in this thread. /" On your death the contents of your joint account would automatically go to the named person with you on the account."/
Hans.
Wills can be disputed and Court cases do arise over them. However, I don't think you wanted to consider disputes that could arise. You wanted to know who is legally entitled to all money remaining in your joint account.
You have said.../" All I wanted was a simple answer in words of one syllable that I could understand; not a lot of legal jargon."/
Accordingly, I suggest you look no further than what was said by Aunt PG; in the very first response in this thread. /" On your death the contents of your joint account would automatically go to the named person with you on the account."/
Hans.
and there is a 2018 case which is relevant
https:/
a decision in the case of Whitlock, et al. v Moree [2017] UKPC 44 which has profound implications for joint-holders of bank accounts.
which I think someone referred to
https:/
a decision in the case of Whitlock, et al. v Moree [2017] UKPC 44 which has profound implications for joint-holders of bank accounts.
which I think someone referred to
