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There are joint accounts called Tennents in Common. These accounts are treated as if each of the joint account holders owns half the money. If there is a death, their half goes to the named beneficiary on their half of the account - or is subject to a will and probate. Even if the money is to go to the other account holder - they must be specifically named either in the paperwork that opened the account or in a will. But again, anyone can be named beneficiary. These types of accounts are almost obsolete anymore as they can get messy and complicated when one account holder dies. Seems more often than not, people who opened these Tennents in Common accounts didn't really understand the complications involved.