Jtwros Legal Question

[donb1]

What is the name of your state? WASHINGTON
I HAD A ACCOUNT WITH THE MOTHER OF MY DAUGHTER SET UP AS JTWROS IN CASE SOMETHING HAPPENED TO EITHER ONE OF US, THERE WOULD BE MONEY THAT OUR DAUGHTER COULD USE RIGHT AWAY.
i HAVE BROKEN UP WITH HER MOTHER LAST YEAR, AND LAST MONTH SHE STATED SHE WANTED THAT MONEY. I REFUSED, BECAUSE SHE WANTED IT FOR XMAS MONEY.
I JUST FOUND OUT SHE TOOK OUT THE MONEY (40 GRAND) AND PUT INTO AN ACCOUNT I DIDNT KNOW ABOUT, WITH HER NAME, MINE, AND OUR DAUGHTERS NAME ON IT AT A DIFFERENT BANK.
I WAS TOLD BY SMITH BARNEY, WHERE I HAD THE JTWROS SET UP THAT SHE WAS LEGALLY RIGHT TO REMOVE THE MONEY WITH OUT MY SIGNATURE, WAS SHE?
I THOUGHT THAT IT TOOK BOTH OUR SIGNATURES TO SEVERE THE ACCOUNT OR THE DEATH OF ONE OF US.What is the name of your state?What is the name of your state?

 

[colourfastt]

What is the name of your state? WASHINGTON
I HAD A ACCOUNT WITH THE MOTHER OF MY DAUGHTER SET UP AS JTWROS IN CASE SOMETHING HAPPENED TO EITHER ONE OF US, THERE WOULD BE MONEY THAT OUR DAUGHTER COULD USE RIGHT AWAY.
i HAVE BROKEN UP WITH HER MOTHER LAST YEAR, AND LAST MONTH SHE STATED SHE WANTED THAT MONEY. I REFUSED, BECAUSE SHE WANTED IT FOR XMAS MONEY.
I JUST FOUND OUT SHE TOOK OUT THE MONEY (40 GRAND) AND PUT INTO AN ACCOUNT I DIDNT KNOW ABOUT, WITH HER NAME, MINE, AND OUR DAUGHTERS NAME ON IT AT A DIFFERENT BANK.
I WAS TOLD BY SMITH BARNEY, WHERE I HAD THE JTWROS SET UP THAT SHE WAS LEGALLY RIGHT TO REMOVE THE MONEY WITH OUT MY SIGNATURE, WAS SHE?
I THOUGHT THAT IT TOOK BOTH OUR SIGNATURES TO SEVERE THE ACCOUNT OR THE DEATH OF ONE OF US.What is the name of your state?What is the name of your state?

Unless the account was originally set up requiring 2 signatures for withdrawal then either owner of the account may withdraw any or all funds at any time. (FYI, when you put her on the account as a joint tenant then you made her an owner of the account with full access to the funds in the account.)

 

[donb1]

HOW RIDCULOUS IS THAT???? WHAT IS THE USE OF RIGHTS OF SURVIVORSHIP? I MEAN OBVIOUSLY THE MONEY IS SAFER IN A REGULAR SIGNATURE BANK ACCOUNT.
MY DAUGHTER HAS BEEN TAKEN TO THE CLEANERS, SHE DOESNT EVEN KNOW.
HER MOTHER WITH HER NEW LEGAL WEALTH HAS INFORMED HER THAT SHE HAS NO MONEY TO PAY HER CELL PHONE, IT GOT SHUT OFF....AND BILL COLLECTORS ARE CALLING HER FOR DOCTORS AND HOSPITAL BILLS AQUIRED BY HER BECAUSE HER MOTHER SAID SHE WOULD PAY THEM.
HOW TO HANDLE??? IT MUST BE TIME TO HIRE A LAWYER. i CANT STAND BY AND SEE MY DAUGHTERS TRUST/RAINY DAY FUND BE SPENT ON NEW CLOTHES AND PRETTY SHINY THINGS THAT STRIKE HER MOM'S FANCY WHILE HER CREDIT IS BEING RUINED.
I HAVE FOUND OUT TODAY ALSO THAT I HAVE AN 2 UNKNOWN SAVINGS ACCOUNTS 1OPEN, 1 CLOSED AND A CHARGE OFF DEBT THROUGH THE BANK ABOUT 5 GRAND AND DELIQUENT ACCOUNTS FROM THE BUSINESS ACCOUNT SHE HID FROM ME.

 

[colourfastt]

HOW RIDCULOUS IS THAT???? WHAT IS THE USE OF RIGHTS OF SURVIVORSHIP? I MEAN OBVIOUSLY THE MONEY IS SAFER IN A REGULAR SIGNATURE BANK ACCOUNT.
MY DAUGHTER HAS BEEN TAKEN TO THE CLEANERS, SHE DOESNT EVEN KNOW.
HER MOTHER WITH HER NEW LEGAL WEALTH HAS INFORMED HER THAT SHE HAS NO MONEY TO PAY HER CELL PHONE, IT GOT SHUT OFF....AND BILL COLLECTORS ARE CALLING HER FOR DOCTORS AND HOSPITAL BILLS AQUIRED BY HER BECAUSE HER MOTHER SAID SHE WOULD PAY THEM.
HOW TO HANDLE??? IT MUST BE TIME TO HIRE A LAWYER. i CANT STAND BY AND SEE MY DAUGHTERS TRUST/RAINY DAY FUND BE SPENT ON NEW CLOTHES AND PRETTY SHINY THINGS THAT STRIKE HER MOM'S FANCY WHILE HER CREDIT IS BEING RUINED.
I HAVE FOUND OUT TODAY ALSO THAT I HAVE AN 2 UNKNOWN SAVINGS ACCOUNTS 1OPEN, 1 CLOSED AND A CHARGE OFF DEBT THROUGH THE BANK ABOUT 5 GRAND AND DELIQUENT ACCOUNTS FROM THE BUSINESS ACCOUNT SHE HID FROM ME.

Let's start with a basic premise ... turn OFF your caps. Now, to answer your question: OW RIDCULOUS IS THAT???? WHAT IS THE USE OF RIGHTS OF SURVIVORSHIP? The "use" of right of survivorship is to pass control of an asset without the need for a probate proceeding. Upon the death of one owner control passes to all surviving owners immediately. If you were looking for a bank account to pass to someone on your death without that person having access to the funds while you are alive, then you needed a 'payable on death" account.