If more than 1 person shares access to a bank account, it is called a joint account. A joint account exists when a minimum of 2 parties trust each other explicitly in money matters. Having a joint account allows each party to write checks, deposit money and to withdraw funds. In the case of the demise of 1 of the parties, the law usually dictates the surviving member has the right to the amount of money – the balance, remaining in the account. It is for this reason that some parties enter to a joint account. In opening a joint account the surviving individual and the money in the account avoids probate of the will. However, if the account is in arrears, owing money to the bank, the surviving party is responsible for those debts.