Is it my money??
My dad just passed away recently and he had an account with money in it with my name on it. I used it to buy him things with a credit/atm card with my name on it. The bank says that with his death certificate, they will close out the account and give me the money. Even though he has a trust and the money might have been supposed to be in the trust, is it my money. Can I take it out? His executor of his will says that I shouldn't touch it because it is for the trust. She apparently put a freeze on all of his accounts but couldn't on this one because my name is on it.
Thanks for any help asap.
Asked on 2/28/05, 12:46 am
2 Answers from Attorneys
Scott Linden
Scott H. Linden, Esq.
Re: Is it my money??
I am very sorry to hear of your father's passing and now the issues it has caused.
Unfortunately, I can not answer you with so little detail. I need to see a copy of the trust. If you can obtain one, i would be happy to review it for you free of charge.
Please feel free to contact me at my office, 626-578-0708 extension 4 or through my firm site at www.No-Probate.com.
Scott
Answered on 2/28/05, 8:07 pm
Donald Field
Donald L. Field, Jr., Attorney at Law
Re: Is it my money??
if the account was in joint tenancy (either you OR your father could write checks, withdraw funds, make deposits)then this type of account becomes the property of the survivor when 1 account holder dies.
if the account is in joint tenancy, the bank is right and a death certificate is normally all that is required to change the account to your name only.
SEE:
http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=05001-06000&file=5301-5307
Answered on 2/28/05, 9:02 pm
