FW: Husband & Wife joint account in Malaysia

Hi ! Dear All,

Just to share with you one recent article i read and shocked me a lot. It
happens in west Malaysia , husband and wife and 1 son. Husband pass away due
to accident, husband has a RM50k joint saving account with wife, what happen is
the wife / like most people think,when husband pass away, she will get the money automatically
since it is joint account. But to her surprise, She could not withdraw even a
single cent!! Joint saving account is meant for convenience when spouse need
it the most, but most people always assume once the other holder dies, another
half will get the money automatically which is very wrong.

I would like to share my opinion with all of you, you may take it as
educational thoughts or for you to be aware. When one person dies, the other
joint holder of the saving account will get the money automatically only if
that particular bank practise ' JOINT TENANCY ' - this terms means one party
die, the other joint party gets money automatically.

But unfortunately, not all banks practise JOINT TENANCY, some foreign
banks practise and most local banks don ' t practise, If you want to be sure, just
ask your bank is their joint saving account based on JOINT TENANCY, if it
is yes, get the black and white.

Can u all imagine, when husband pass away, the wife already suffer
emotional loss, now suffering the problem of having ' NO MONEY ' although it is in
join account. Because of husband ignorance, now the wife and son pay for it.

Hope the above helps for you. Just take note.
so, make the move now... action....b4 too late