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When you put your money in a bank account, you sign a signature card. You can name someone else on the account as a joint tenant with rights of survivorship. In the event of one person's death, the survivor automatically receives ownership without the need for probate or a will. Simply notify the financial institution of the death and the deceased person's name will be removed from the account. Adding someone as a joint tenant with rights of survivorship ensures seamless transfer of ownership.
