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IF HUSBAND DIES DOES WIFE GET BANK LIVRET ACCOUNT CASH?


chirpy

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HI.

HYPOTHETICAL QUESTION.

I have joint account with my wife and a small livret account in my name only.If I die first  does the livret cash go direct to my wife .We have  a tontine agreement since we came to live in France in 2001.We have 2 adult childen in their 40's not living at home.![:D]

Thanks.

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Not sure of the actual legalities but with CA we have a joint A/C but our Livrets are separate. As first named on the A/C when I log in on line I can see the current A/C and my Livret and transfer money between them whereas my OH had to sign up herself just to be able to see her Livret.

That suggests to me that her Livret funds might not automatically pass to me on death. The other way round would not be a problem as she also has access to the joint A/C on line and also therefore my Livret.

The answer is for me to have her login from where it is possible to transfer funds to and from the joint A/C. I don't know if the same or similar applies to your bank.

Don't you just love French banking [;-)]

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Perhaps a member will clarify this point. A joint current account as Mr AND Mrs will be frozen on the death of either partner, whereas an account in Mr OR Mrs can be used by remaining partner. Obviously savings accounts in one name don't comply.
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That's my understanding too, Gastines. It must be 'ou' for both partners to have equal & separate access.

I think the rules are exactly the same in UK... individual accounts of a deceased are 'frozen'. 

You may be interested to know that CA have organised our internet account access so that when I log in, I can see both the joint account and the Livrets of both partners. Thus I can manage transfers to & from them all, in a single session.

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[quote user="Âme"]That's my understanding too, Gastines. It must be 'ou' for both partners to have equal & separate access.

I think the rules are exactly the same in UK... individual accounts of a deceased are 'frozen'. 

You may be interested to know that CA have organised our internet account access so that when I log in, I can see both the joint account and the Livrets of both partners. Thus I can manage transfers to & from them all, in a single session.

[/quote]

Hi,

       Your bank can accept mutual mandates from a married couple , so they can each manage the other's sole name accounts. Talk to the bank.

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[quote user="Gastines"] A joint current account as Mr AND Mrs will be frozen on the death of either partner, whereas an account in Mr OR Mrs can be used by remaining partner. [/quote]

Is this correct? It does not seem at all logical.

We have a joint account so that we both have access. If we'd wanted the other half not to have access we would have taken two accounts in our separate names. Why would after the death of one partner precisely the opposite happen to what we wished?

Edit: I had not seen the OR and AND. Makes sense now.

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Just as an aside, it may be a good idea to have a list of passwords etc so that is possible to access all accounts when ( if  ) it  becomes necessary. A computer is only as good as the info that you are able to give it.[geek]
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[quote user="parsnips"][quote user="Âme"]That's my understanding too, Gastines. It must be 'ou' for both partners to have equal & separate access.

I think the rules are exactly the same in UK... individual accounts of a deceased are 'frozen'. 

You may be interested to know that CA have organised our internet account access so that when I log in, I can see both the joint account and the Livrets of both partners. Thus I can manage transfers to & from them all, in a single session.

[/quote]

Hi,

       Your bank can accept mutual mandates from a married couple , so they can each manage the other's sole name accounts. Talk to the bank.

[/quote]

We did this last Friday - it's called a "procuration" and since I now see "mandataire" and "titulaire" on our respective accounts when I look online - mandate is probably the translation for it.  We each had to sign (lots of papers!) to allow the other to "use" the other account.    We have yet to test it by moving any money, but will do so when needed.

We also opened a joint account in addition to our own individual accounts - but we were not allowed to have a joint livret.  I suspect this is some other rule made by French banks!

As stated - talk to your bank, who can surely tell you about the "passing on" on the livret also.

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