Quebec to end freeze on joint bank accounts in case of death
The Quebec government announced on Wednesday that the freezing of joint accounts in the event of the death of one of the couple's partners has been lifted.
The 'Act respecting the return of deposits to joint account holders who are spouses or former spouses' will make it easier for joint account holders to access their share of the balance.
Before the law came into force, when a spouse died, financial institutions would freeze the money in the bank account until the estate of the deceased was settled. This could take a few weeks or even months, making the financial situation of the other account holder precarious during this period.
Now, financial institutions must give the surviving spouse his or her share of the account balance. The law provides for an equal division of the balance, unless a declaration providing for another division was made to the financial institution before the death.
This new law applies to both new and existing accounts.
The Office de la protection du consommateur will be responsible for enforcing this law, which is a result of the family law reforms passed last June.
- This report by The Canadian Press was first published in French on Dec. 7, 2022
CTVNews.ca Top Stories
Ottawa public school board, 3 Toronto-area school boards launch lawsuit against social media giants
The Ottawa-Carleton District School Board and three school boards in the Toronto-area have launched legal action against social media giants, accusing them of "disrupting students' fundamental right to education."
Several flight attendants from Pakistan have gone missing after landing in Canada
Multiple flight attendants from Pakistan International Airlines have abandoned their jobs and are believed to have sought asylum in Canada in the past year and a half, a spokesperson for the government-owned airline says.
Statistics Canada reports real GDP up 0.6% in January as Quebec strikes end
Statistics Canada says real gross domestic product grew 0.6 per cent in January, helped by the end of public sector strikes in Quebec in November and December.
Tipping is off the table at this Toronto restaurant
A Toronto restaurant introduced a surprising new rule that reduced the cost of a meal and raised the salaries of staff.
Rainfall warnings of up to 90 mm among weather alerts in effect for 7 provinces
Rainfall warnings of up to 90 millimetres, air quality advisories and other alerts have been issued for seven Canadian provinces, according to the latest forecasts.
King Charles calls for acts of friendship in first public remarks since Kate's cancer diagnosis
King Charles III gave public remarks for Maundy Thursday, addressing the importance of acts of friendship, following his and Catherine, Princess of Wales’ cancer diagnoses.
Ukrainian child asylum seekers in St. John’s get class of their own
Roughly 50 children will gathered in a St. John’s classroom for the first time on Saturday for unique lessons on Ukrainian language, culture and history.
A Nigerian woman reviewed some tomato puree online. Now she faces jail
A Nigerian woman who wrote an online review of a can of tomato puree is facing imprisonment after its manufacturer accused her of making a “malicious allegation” that damaged its business.
Donald Trump assails judge and his daughter after gag order in N.Y. hush-money criminal case
Donald Trump lashed out Wednesday at the New York judge who put him under a gag order that bars him from commenting publicly about witnesses, prosecutors, court staff and jurors in his upcoming hush-money criminal trial.