Alteration of rights.
Rights at death under section 19-602.12 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party’s lifetime. A right of survivorship arising from the express terms of the account, section 19-602.12, or a POD designation, may not be altered by will.
Annotations
Apr. 27, 2001, D.C. Law 13-292, § 302(b), 48 DCR 2087 Uniform Law: This section is based upon § 213 of the Uniform Nonprobate Transfers on Death Act (1991 Act).
Sourced from the DC Council Open Law Library (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.