FW: Bank - Joint Account

-A forwarded email from a friend-
THIS IS IMPORTANT NOTE TO MARRIED COUPLE.
 
>  Bank - Joint Account
> Husband&wife Joint account issue in Malaysia...
> Make sure it is Joint Tenancy.
>
> Dear All,
>   Yes, this is a true situation
> in Malaysia.  It applies to safe deposit box as
> well.  To overcome this dilemma situation, one has
> to quickly withdraw and take out whatever you have in
> the joint accounts or safe deposit boxes before letting
> the bank knows that one of the joint partners
> had died.
>  
> Cheers,
>                
>
> 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 ways
> 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 joint account.
>
> Because of husband ignorance, now the wife and
> son pay for it.
>
> Hope the above helps for you.
>
> Have a Great Day.