Managing Joint Bank Accounts During Succession

Facing the loss of a family member is a delicate time, often made even more complex by the bureaucratic and financial burdens that follow. One of the most frequent and thorny issues concerns the management of a joint bank account following the death of one of the account holders. Understanding how to proceed, what legal limitations exist, and how to protect your rights is essential to avoid family disputes or prolonged bank freezes. As a lawyer specializing in succession law in Milan, Avv. Marco Bianucci regularly assists clients who find themselves having to untangle the regulatory web between banking rules and inheritance law.

The Regulatory Framework: Presumption of Ownership and Account Operation

According to current legislation and established case law, sums deposited in a joint bank account are presumed, unless proven otherwise, to be owned by the account holders in equal parts. In the classic case of two account holders, therefore, it is presumed that 50% of the balance belongs to the deceased and falls into the estate, while the remaining 50% remains the full property of the surviving account holder. However, practical operation depends on the type of signature authorized at the bank: joint signature or individual signature. In the first case, the account is generally blocked until the heirs are definitively identified; in the second case, although the survivor theoretically has the ability to operate the account, banks often tend to adopt cautious behaviors that require expert legal intervention to be unblocked.

The Bianucci Law Firm's Approach: Protecting Assets and Heirs

Avv. Marco Bianucci, thanks to his extensive experience as a lawyer specializing in succession law in Milan, adopts an analytical and preventive approach. It is not just about unblocking funds, but about verifying the correctness of bank transactions prior to death. Often, in fact, anomalous withdrawals or misappropriations that infringe upon the heirs' rightful share may emerge. The Bianucci Law Firm works to reconstruct the estate with precision, protecting both the joint account holder who needs to recover their share and the heirs who fear undue asset depletion.

The firm's strategy involves a detailed analysis of banking documentation and, where necessary, direct communication with the credit institution to overcome the bureaucratic rigidities that often paralyze the funds needed for funeral expenses or immediate management. The goal is to achieve a swift and correct settlement of entitlements, preventing lengthy legal disputes among family members.

Frequently Asked Questions

Can the surviving joint account holder withdraw all the money from the account?

No, or rather, they should not do so if it infringes upon the rights of the heirs. Although with an individual signature, the joint account holder technically has the right to operate the account, withdrawing the entire balance exposes them to the risk of having to return the sums to the deceased's heirs, in addition to possible legal consequences for misappropriation. The deceased's share (presumably 50%) must be made available to the estate.

Can the bank block a joint account after a death?

Yes, this is a frequent practice. Although case law often recognizes the right of a joint account holder with an individual signature to dispose of their share, many credit institutions freeze the entire account pending the submission of the inheritance tax return to protect themselves from potential claims by the heirs. The intervention of an experienced succession lawyer is often crucial to unblock the situation.

What happens if the account was funded only by the deceased?

If it can be proven that the account, despite being jointly held, was funded exclusively by the deceased's income (e.g., pension or salary), the heirs may take action to overcome the presumption of 50% co-ownership and request that the entire balance be included in the estate. This is a complex situation that requires rigorous documentary proof.

How are inheritance taxes calculated on a joint account?

Inheritance tax applies only to the portion of money belonging to the deceased. Therefore, in a joint account held by two people, taxes will be calculated only on 50% of the balance present on the date of death, unless a different distribution of ownership of the funds is proven.

Request a Legal Consultation in Milan

If you find yourself having to manage a joint bank account following a bereavement, or if you believe your inheritance rights have been violated by unauthorized withdrawals, it is essential to act promptly. Avv. Marco Bianucci receives clients at his office in Milan at Via Alberto da Giussano, 26, to analyze your specific situation. During the consultation, all aspects of the case will be evaluated to define the most effective strategy for protecting your assets.