Q: If I am listed on a relative’s bank account and I and that relative are PA residents, if I die what happens?
A:
If by "listed" you mean that you have signed a Signature Card with the bank, then you currently have the power to write checks/make withdrawals.
However, if you are listed as a "joint, with right of survivorship", and you pass before the other on the account, your interest in the account is extinguished at the moment of death.
If you are not shown as "with right of survivorship", then your Executor accedes to your rights in whatever the bank balance is in the deposit account. However, keep in mind that the other account signator can withdraw funds from the account at any time.
A: it depends on how you are "listed". You can be an authorized signer or a POA, and in these cases there are no issues if you predecease your relative. On the other hand, you may be a joint owner of the account, which has different consequences for your "estate" depending on whether you are a joint owner with right of survivorship or a tenant in common.
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