For subscribers
Siblings fight for share of $2.8m in joint account
Sign up now: Get ST's newsletters delivered to your inbox
The sister contributed only about $250,000 to the account, but she received about $1.4 million when the account was closed.
PHOTO: THE BUSINESS TIMES
Follow topic:
Many of us don’t think twice about opening a bank account with a relative but a dispute between two siblings over $2.8 million in their joint account shows how such arrangements can turn ugly.
Like joint ownership of property, joint bank account holders also have the “right of survivorship”: If one account holder dies, the other inherits all the money in the account if no compelling documents show otherwise.
