JOINT ACCOUNTS VERSUS NOMINATION VERSUS WILL ?

Querist : Anonymous (Querist) 22 March 2011 This query is : Resolved

My mother is having joint account with my elder brother and father has expired , now after my mothers death who will get money joint account holder or the nomination or as per will

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Guest (Expert) 22 March 2011
Upon death of one of the joint holder the account automatically becomes a single account holder on providing proof of death of one of the operator. Nomination gets effected only on the death of both the operators of the account.

If will has the mention about any share in the account, the claim may have to be enforsed through court of law, otherwise only the joint holder of the account becomes the owner of the funds. But in case of nomination, even in the case of death of both the operators, the bank would be liable to accept the claim of the nominee only, unless directed by the court of law.