In this type of joint account, the owners of the account each hold/own a different percentage share of the asset value. If one of the owners dies, however, they do not have the power to personally choose a beneficiary or give their assets to a surviving co-owner of the account; rather, the probate court determines who receives his/her interest in the account (NO survivorship feature).
CFP® certification is a voluntary certification granted in the United States by Certified Financial Planner Board of Standards, Inc. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Individuals who become certified are required to complete continuing education.