• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Probate - mom's bank accts

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

NothingIsSimple

Junior Member
What is the name of your state? California
-------------------------------------------------------------------------------

When my mom passed away the atty told me her bank accts were part of probate - my mom's sister at that time was exector and passed away also before probate was completed.

The court has since appointed me as Executor. On my mothers ckg and svgs it reads my moms name then below my aunts name (but does not say joint acct), and then below aunts name is ITF and my name. Im the sole beneficiary.
When I became executor I then had access to my mother's ckg and svgs. But it appears my aunt withdrew out all but a very small amt in each and then opened an estate account.

In the interim I paid alot of my mom's bills by borrowing money and also paid late charges, and penalties.

What I am now wondering is if in fact my mom's accts were payable to me upon death and cant seem to get an answer from the bank. Also the attorney had the bond exonerated after my aunt passed away and prior to my being appointed. In addition, the banks were sending the statements to my aunts residence which is in Oregon and my cousin is executor of his mother's estate and has not been forwarding statements, etc. I requested my mother's file from the atty handling her probate and in looking through bank statements it seems to me there is a large amount not accounted for. To add to the mess the bank statements reflect my aunts accts and my moms which Im sure was done for convenience but in looking at them and had my aunt not initialed her own I would have been totally lost as to who's acct is whose.

My cousins are being uncooperative which apparently is going against the advice of their atty.

Who can tell me if my moms accts were POD because I surely cant get an answer and I dont really want to ask the atty handling it - had she done an audit when my aunt passed away she would have caught some of this and now she is having to backtrack and if their is money missing i.e., my cousins having access to my mom's accounts, I'm guessing with the bond exonerated the my atty would be liable? so I haven't wanted to say anything just yet.

This is crazy, the bank won't answer me so who can tell me ?
__________________
NothingIsSimple
 


Dandy Don

Senior Member
The way you have mentioned how the account is set up is confusing. Where are you getting that information--from a computerized bank statement or where?

Does the specific phrase or the form show you as being exactly sole beneficiary or are you guessing about this?

The initials ITF mean "in trust for" so it's hard to figure out what her intentions were--aunt could be a joint account owner, or trustee or beneficiary along with you.

You need to be talking to someone at the bank to explain this to you--if a clerk or teller won't do it, go to the next higher up, like a vice president or whatever until you get an answer. If they still won't answer, you need an attorney to get to the bottom of this.

And you need to be asking your aunt if a trust has been set up with her as trustee and you as beneficiary.

DANDY DON IN OKLAHOMA (tiekh@yahoo.com)
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
Top