Opinion ID: 2218425
Heading Depth: 1
Heading Rank: 5

Heading: Right of survivorship.

Text: A financial account opened in joint tenancy with right of survivorship creates a rebuttable presumption that the depositor intended survivorship rights. Kirsch v. First Nat'l Bank of Watertown, 298 N.W.2d 71 (S.D.1980). Evidence of a contrary intent must be clear and satisfactory. Miles v. Hanten, 83 S.D. 635, 164 N.W.2d 601 (1969); Wagner v. Wagner, 83 S.D. 565, 163 N.W.2d 339 (1968). This is a question of fact and we will not reverse the trial court's findings unless they are clearly erroneous. Kirsch, supra ; Miles, supra . Lloyd claims that the trial court erred in finding there was not clear and satisfactory evidence to rebut the right of survivorship. He lists several factors which he claims show sufficient intent to rebut the right of survivorship in the joint accounts. First, he argues that the will shows an intent on Samuel's part that the right of survivorship should not apply. Second, he claims that Amanda placed the assets into joint accounts while Samuel was incapacitated. Third, he claims that a substantial share of the money in the joint accounts was income from Samuel's assets. While Article III of Samuel's will could arguably indicate an intent to avoid right of survivorship, other language in Article III indicates otherwise. After dividing the property one-third to Amanda; one-third to Lloyd; and one-third to Lorraine, the will states I, of course, understand that my wife need not do this because this property is in joint tenancy.... This language indicates that Samuel intended right of survivorship but knew the will could not overcome her right of survivorship unless Amanda so agreed. Further, as discussed above, Lloyd's claim that Amanda placed Samuel's money into joint accounts after his incapacity is not accurate. Samuel and Amanda were married for almost twenty-seven years, during which they worked and managed their finances together. If anything, the circumstances of this case indicate that Samuel and Amanda intended right of survivorship in the jointly held assets. There is not clear and convincing evidence to rebut the presumption that the jointly held assets carried right of survivorship. Kirsch, supra ; Wagner, supra . Accordingly, we affirm the trial court.