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A mother and daughter own an account as joint tenants. A third person (the daughter’s husband) recently presented us with a court order naming him as guardian for the mother, and we added him to the account. Is there any reason to remove the daughter from the account? – IBA Compliance Connection

IBA Compliance Connection

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A mother and daughter own an account as joint tenants. A third person (the daughter’s husband) recently presented us with a court order naming him as guardian for the mother, and we added him to the account. Is there any reason to remove the daughter from the account?

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No, the daughter should remain on the account, unless there are other facts that would require her removal. The guardian for the mother steps into the mother’s shoes as one of the joint tenants on the account, but that would not affect the daughter’s ownership interest in the account. 

For resources related to our guidance, please see:

  • Manta v. Kahl, 348 Ill.App. 373, 377 (1st Dist. 1952) (A guardian — referred to in this case as a “conservator” — “succeeded to the identical rights” of the ward under the deposit agreement for a joint deposit account.)