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What happens to joint accounts when someone passes away?

For joint credit accounts, surviving individuals should visit a branch to have products changed to their name only; in some cases, reapplication may be required and limit reductions may be applied.

For other accounts (excluding Quebec) and accounts set up as Joint with Rights of Survivorship (JWROS), all accounts are transferred to the survivor.

If a joint account isn’t set up as a JWROS, additional documentation may be required. In Quebec, documents are required to change accounts to the survivor’s name and will be disbursed based on terms found in the Will.

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