Oct 07, 2015 - 08:22 AM
Oct 07, 2015 - 08:32 AM
Oct 07, 2015 - 08:35 AM
Joint accounts are often opened for convenience sake with a family member or a non-family member. It does not matter who has, or has not, contributed to that account.
Once an account is jointly owned, both owners have 100% rights to that account. Either owner has the right to spend, give away or transfer funds without the consent or knowledge of the other account holder. Joint accounts carry the right of survivorship when an account owner dies- so the remaining account owner has the right to all the funds.