One benefit of having a joint bank account is convenience. All account owners have equal access to the funds. Any party who has a name on the account can write checks on the account, withdraw funds, and deposit funds. Merging funds gives each member more flexibility to pay household bills or engage in important business transactions. The other advantage from a joint bank account is legality. If one account owner dies, the other account owner will automatically gain access to all the funds in the account. He or she will become the owner of the account. There is no need for a probate.


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