Trading, Accounts & Prohibited ActsQuestion 237 of 398
A brokerage account is registered as joint tenants with right of survivorship (JTWROS). One of the two owners dies. What happens to the account assets?
a.The deceased owner's share passes to their estate under their will
b.The account is frozen until a probate court divides it equally
c.The assets are split 50/50 between the survivor and the estate
d.The entire account passes automatically to the surviving joint owner
Explanation
In a JTWROS account, the right of survivorship means the surviving owner automatically receives the deceased owner's interest, bypassing probate. This is the defining feature that distinguishes JTWROS from tenants in common.
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