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88sins
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Re: Finances

Postby 88sins » January 26th, 2023, 7:51 pm

In Whitlock v Moree, that decision was,arrived at for an entirely different circumstance, that's of somewhere between nil and zero relevance to this scenario.

Essentially, their decision was that the clause was generated by the bank with no input from the account holders for the purpose of facilitating management of the account by the bank in the event of the death of one of the account holders, and not to dispell ambiguity regarding whether or not there was a question of the entitlement to the funds as part of the estate of the deceased.

pugboy
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Re: Finances

Postby pugboy » January 26th, 2023, 7:55 pm

so you saying a spouse can lay claim to anything the deceased had in their name, and how much can they lay claim to given that another person is joint on the account ?

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Re: Finances

Postby adnj » January 26th, 2023, 8:15 pm

88sins wrote:In Whitlock v Moree, that decision was,arrived at for an entirely different circumstance, that's of somewhere between nil and zero relevance to this scenario.

Essentially, their decision was that the clause was generated by the bank with no input from the account holders for the purpose of facilitating management of the account by the bank in the event of the death of one of the account holders, and not to dispell ambiguity regarding whether or not there was a question of the entitlement to the funds as part of the estate of the deceased.


That sounds remarkably similar to the dissenting opinion.

The decision:

This is, therefore, a case in which the two holders of a joint account have, by an
agreement with the bank to which they were both parties, expressly set out above their
signature a declaration as to the beneficial interests in that joint account which, on its
true construction, provides for any balance on the account to be the beneficial property
of the survivor, upon the death of the other account holder,
regardless who contributed
the money to the credit of the account before that date.
It is, in the Board’s view, a case
in which there was no need to conduct an open-ended factual analysis as to the
subjective intention of Mr Lennard, since the account opening forms signed by him and
Mr Moree were, by themselves, dispositive of the beneficial interest in that account,
subject to any contrary agreement or later variation, and there was none.
Had the matter
turned on such a factual analysis there would, in the Board’s view, have been much
force in the appellants’ submission that the analysis conducted by the trial judge should
not have been disturbed by the Court of Appeal. But for the reasons given above, the
Court of Appeal’s decision was correct. It was based upon a sound perception as to the
meaning of clause 20 with which the Board agrees.

edit: This decision does not indicate that a jointly held account will pass to the survivor. It indicates that a jointly held account is subject to the account opening clauses that are signed by both parties. Further, any modification of that agreement must be signed by both parties. This indicates that the joint account opening documents are conclusive.

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Re: Finances

Postby bluefete » January 27th, 2023, 1:14 am

88sins wrote:
pugboy wrote:plenty woman would not be happy about this thread


Some won't be happy, but methinks that just as many would. These things apply to everyone, not just men, and women can use these things to safeguard and provide for their children as well.


Quick tip for property owners.
When preparing your will, if you have grandchildren, did you know that you can put it in place so that at the time of your demise your kids can inherit your property, but cannot dispose of it and it must be passed to your grandchildren?

Also, you can leave your surviving spouse what's known as a life interest in your residential home. This allows so that if you the legal property owner die and are survived by your spouse and children, you can leave the property for whomsoever you choose, but your spouse will have the right to occupy that property for the rest of their life unhindered.


This is how I did mine. No child outside woman going and put my wife out after I die.

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88sins
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Re: Finances

Postby 88sins » January 27th, 2023, 5:03 am

@bluefete
boy, if you only know how many elderly people does be under pressure because of that, it seriously frightening. Some people does think "is only step-parents that does happen to", not understanding that it have some dotish weak-willed people out here that will prioritize their man/woman over their own biological parents and will throw them the house, especially if the surviving parent was always critical of them and disapproves of the one that they in a relationship with.
Yuh kno what they say, "yuh does make chirren but..."

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