Joint accounts
A joint account is a bank or investment account held in the names of two or more people. The account agreement governs who can deal with the funds. Who actually owns the money, during life or after one holder dies, depends on the parties' intention and is not always the survivor.
How BC law treats it
Where an account is gratuitously put into joint names with an adult child, a rebuttable presumption of resulting trust applies, so the survivor may hold the funds for the estate (Pecore v Pecore, 2007 SCC 17). A joint holder is not liable for a co-holder's personal debts, although a creditor may try to garnish funds in the account.
What it means for your business
Business owners should not mix business funds into personal joint accounts and should document the intention behind any joint account.
Risks and common mistakes
Adding a child to an account without documenting whether survivorship is intended often leads to estate litigation.
Browse the full Fulcrum Law Dictionary for related terms.
General information about British Columbia and Canadian law, current to October 2026. It is not legal advice.
