I would appreciate it if someone could assist with the default position of a business bank account held by the partners of a business. I believe that the account is held as joint tenants unless the partners specify when opening the account that it is to be held as tenants in common and the share of each partner, or the joint tenancy is subsequently severed. Is this correct? I am dealing with an estate where a brother predeceased leaving part of his estate to his sister. Does the brother’s share of the business bank account pass to his surviving business partners in the absence of evidence to the contrary?
The Salvation Army