What happens to the interest in a JTWROS account if some of the owners pass away?

In a Joint Tenancy with Right of Survivorship (JTWROS) account, the key characteristic is that ownership of the account automatically transfers to the surviving owners when one of the joint tenants passes away. This means that the interest held by the deceased in the account does not go through probate and does not become part of the decedent's estate for distribution. Instead, the surviving tenants immediately take full ownership of the account, allowing for a seamless transition of ownership without delays or the potential complications of court processes. This feature is one of the primary reasons individuals choose a JTWROS account for joint ownership, as it simplifies the transfer of assets upon the death of one co-owner.