A widower, opens a joint bank account with his niece, A. O tells A, "I’ll want your name on this account so that in case I am sick you can go and get the money for me." O dies. Is A entitled to the money in the bank account? Suppose that O also gives A a right of access to O ’s safe deposit box by adding A’s name to the signature card giving access; the lease agreement signed with the bank provides that the contents of the box are owned in joint tenancy with right of survivorship. The box contains $324,000 in U.S. savings bonds and $4,000 in cash. Is A entitled to the bonds and cash?

Determining if A is entitled to the money in the joint bank account after O's death primarily depends on the laws of the jurisdiction in which the account was opened and the specifics of the account agreement. Generally, when an account is opened as a joint account with the right of survivorship, the surviving account holder automatically becomes the owner of the funds in the account upon the death of the other account holder. In the example provided, if the account was set up as a joint tenancy with right of survivorship, then A would typically be entitled to the money remaining in the account once O dies.

As for the safe deposit box, the answer is more straightforward if the lease agreement explicitly states that the contents are owned in joint tenancy with the right of survivorship. This contract clause means that upon O’s passing, the surviving joint tenant, A, would be legally entitled to the contents of the box, which includes the $324,000 in U.S. savings bonds and the $4,000 in cash. The right of survivorship clause would override other claims unless contested in court under compelling circumstances like evidence of undue influence or lack of capacity at the time of signing the agreement.

Extra: Understanding joint accounts and agreements involving the right of survivorship is important for estate planning. A joint account with the right of survivorship means that two or more people own an account jointly, and when one of the co-owners dies, the surviving co-owner(s) automatically become the sole owner(s) of the account's assets without the need for probate, which is the legal process of distributing the deceased's assets.

The joint tenancy with right of survivorship (JTWROS) is a type of ownership by two or more individuals that gives them equal rights to an account's assets during their lives. Upon the death of one tenant, the assets pass directly to the surviving tenant(s). This is different from "tenants in common," where each tenant can pass their share through a will, and the surviving tenant does not necessarily inherit the deceased's share.

For savings bonds, similar principles apply. If they are registered in co-ownership format, one co-owner's death allows the surviving co-owner to take ownership. However, if the bonds are held in "beneficiary" form, the surviving co-owner has rights to the bonds but does not own them until the death of the owner.

The intentions of the original owner, legal documentation, and the titling of the account are critical. In many jurisdictions, it is presumed that the creation of a joint account or joint tenancy indicates an intention to create a right of survivorship, but this can be challenged in court if there is evidence to the contrary. It's also important to note that tax consequences may arise from inheriting property, and that laws regarding joint accounts and right of survivorship can vary by state or country.