Legal Question in Wills and Trusts in Texas
CD without beneficiaries
My father was in the process of adding my mother as beneficiary on all his accounts (multiple CDs, checking accounts, government bonds, savings accounts) but was unexpectedly taken to the ER due to his stage 4 lung cancer and never recovered enough to be able to even speak or eat again. As a result one of his CDs does not have a beneficiary and my 4 sisters and I all agree all the money should go to our mother. The credit union says they cannot give my mother the CD because the CD has no beneficiary beneficiary. How can we go about resolving this matter? Would it suffice if we 5 children sign a letter indicating we all agree the money belongs to our mother?
Thank you in advance.
3 Answers from Attorneys
Re: CD without beneficiaries
What to do depends on what other assets and liabilities are in the estate. If the deceased didn't owe any money to third parties, and didn't have real property (aside from a homestead) then you all may be able to do a summary procedure to clear title to the account.
Re: CD without beneficiaries
You have to go to court. If you need assistance let me know.
Re: CD without beneficiaries
You will have to enter his estate in probate, with letters testamentary. Then you can order the CU to give the CD to the estate.
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