SIE practice questionmediumJoint Accounts
In a joint tenants with right of survivorship (JTWROS) account, what happens when one account holder dies?
- AThe account is frozen until probate is completed
- BThe account is closed and assets are distributed to all named beneficiaries
- CThe surviving account holder automatically inherits the entire account✓ Correct answer
- DThe deceased's share passes to their estate
Explanation
Why C — The surviving account holder automatically inherits the entire account
In a JTWROS account, when one tenant dies, that tenant's interest passes directly to the surviving tenant or tenants, bypassing probate. This is the right of survivorship. In a tenants-in-common account, the deceased tenant's share would pass to the estate instead.
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