Joint bank account with parent

[KangarooKenny]

If I had a joint bank account with my parent and I died, would half of that bank account go to my NOK ?

It would go into your 'estate' and then be distributed according to your Will or via the law of intestacy if you don't have a Will.

I’m not sure that’s right @pascalsmum

i think with a joint account what’s in it passes to the remaining account holder. You can specify otherwise in the will but then it becomes tricky being able to prove how much of what was in the account belonged to which person.

this site seems to explain it quite well
www.gdlaw.co.uk/site/blog/our-services/joint-bank-accounts-the-survivor-takes-it-all

@pascalsmum is wrong. @ChessieFL is correct. The money in a joint account automatically passes to the other account holder. If have a joint account with your parent, all the money in that account would go to your parent if you die.

That’s great, thanks.
My DM is anxious that I have access to money when she dies - it’s an anxiety of hers. I just wanted to make sure that my DH wouldn’t take it if I died.
Obviously the account needs to not be able to get into debt, or I assume I’d be liable to pay it off too.

I had the same with my mother, for the same reasons. It meant that if we went out for a meal she could wave her hand and say she'd pay but not have to deal with the card machine, I'd use my card for the shared account. I could do any online shopping for her straight from her money. As it turns out it was far sighted of her because when she died there was a £4,000 care bill to pay and the joint account was the only account not frozen. It immediately transfers to the remaining account holder so you have immediate access to the money.

I never thought about using it pay for things, such as Amazon purchases and food. Much easier than them transferring money over each time.

I begged my mum to do this (she flatly refused, same for organising LPA and a will) and when she died the account was frozen and I had an awful experience getting funds out of her account to pay for her funeral.

OP if you die the other account holder receives the full balance, on sight of the death cert.

I have a joint bank account with my father for the same reason OP. It is correct that the other accountholder takes over the account immediately.

Out of interest, what would happen in the event of the OP getting divorced? Would the OP's DH have any claim on the joint account OP holds with her mother?

I worked in a bank previously.
Joint account holders in the event of death the deceased person gets removed from the account and the account remains in the other person's name.
Also note power of attorneys only are valid during the lifetime of the person once they die they no longer are valid.
Also if a person dies the normal process is the next of kin or executor of the estate comes in presents the death certificate. Depending on the amount in the account or whether probate is needed the account can be closed usually there and then. If probate is needed then there is a facility for withdrawing funds to pay for funeral.

I have a joint account with one of my DC for this reason. I had a tricky time sorting out paying bills for my DM after DF died as he had managed all the finance. DC and I have a joint account with enough money in it for them to be able to pay immediate bills / expenses etc. You do, of course, have to be able to totally trust your DC to always do the "right thing" both morally and legally.