Danielle Dennis-Betts explores an influential Privy Council decision on how funds in a joint bank account should be treated on the death of one account holder ‘Perhaps the most important point to be considered in the case is what weight should be attached to an account opening agreement, signed by all holders of the bank …
Continue reading "Trusts and joint bank accounts: Check your admin"
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Antonia Barker analyses the approach to joint accounts and the significance of a declaration as to the beneficial ownership of such an account ‘Where there is a joint account, there is a single contractual relationship between the holders and the bank’. In Whitlock v Moree [2017] the Privy Council, on appeal from the Court of …
Continue reading "Joint bank accounts: Shared intentions"
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Wills & Trusts Law Reports | November 2015 #154The case concerned a dispute over ownership of a property. The property was registered in the name of the deceased, his sister (the plaintiff) and his wife (the defendant) as tenants in common. The plaintiff claimed that she was an owner of a one-half interest in the property based on an agreement entered into between her, the deceased and other family members at the time of purchase of the property in 1994. The defendant asserted that she and the deceased’s estate were solely the beneficial owners of the property, claiming that the reason the plaintiff was included as an owner on ...
Catherine Paget looks at the Northall case, which sheds light on who inherits joint bank accounts ‘If a joint account is opened with funds solely provided by one party, the provisions of the deceased’s will or the operation of the intestacy rules will often mask the fact that no specific instruction has been given to …
Continue reading "Trusts: The presumption of advancement?"
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