Question

A widower, opens a joint bank account with his niece, A. O tells A, "I’ll want your name on this account so that in case I am sick you can go and get the money for me." O dies. Is A entitled to the money in the bank account? Suppose that O also gives A a right of access to O ’s safe deposit box by adding A’s name to the signature card giving access; the lease agreement signed with the bank provides that the contents of the box are owned in joint tenancy with right of survivorship. The box contains $324,000 in U.S. savings bonds and $4,000 in cash. Is A entitled to the bonds and cash?

Answer 1

Answer:

Yes, she is able to collect all the funds.

Explanation:

Before the widower died, her niece became the beneficiary of the bank acount, so all she needs to do is prsent a certified copy of the death certificate.