Just to share with you one recent article i  read and shocked me a lot. It happens in west malaysia , husband and wife  and 1 son. Husband pass away due to accident, husband has a RM50k joint  saving account with wife, what happen is the wife / like most ppl think,  when husband pass away, she will get the money automatically since it is  joint account. But to her surprise, She could not  withdraw even a single  cent!! Joint saving account is meant for convenience when spouse need it  the most, but most ppl always assume once the other holder dies, another  half will get the money automatically which is very wrong.
I would like to share my opinion with all of you, you may take it as  educational thoughts or for you to be aware. When one person dies, the  other joint holder of the saving account wll get the money automatically  only if that particular bank practise 'JOINT TENANCY' - this terms means  one party die, the other joint party gets money automatically.But  unfortunately,not all banks practice JOINT TENANCY, some foreign banks  practise and most local banks dont practise, If you want to be sure, just  ask ur bank is their joint saving account based on JOINT TENANCY, if it is  yes, get the black and white. Can you all imagine, when husband pass away, the wife already suffer  emotional loss, now suffering the problem of having 'NO MONEY' although it  is in join account.Because of husband ignorance, now the wife and son pay  for it.