Does the Presumption of Advancement Apply to Joint Bank Accounts with a Common-Law Spouse?
The addition of a common-law partner as a joint owner of a bank account with a right of survivorship may give rise to initial uncertainty as to whether the arrangement constitutes a gift. While such a designation may appear to be a gratuitous transfer, the presumption of advancement does not apply to a common law spouse added onto a joint account, even if there is a right of survivorship. If….