Legal Question in Banking Law in Rhode Island

Mother's bank account in jeopardy

My mother has a savings passbook account that was in her name only until recently. Her sister has decided to add her name

to the account. My aunt claims that my mother gave her permission to do this even though my mother is mentally

incapacitated to make that kind of decision.

I have learned that her reason for doing this is to leave

money to her grandson when she dies. I guess she is hoping

she will outlive my mother.

I find it unacceptable that she did this. I would like to

know what recourse I have regarding this situation. If my

aunt was ever sued or placed in a nursing home, that money

would be jeopardized.

I've thought about bringing my mother to the bank and

withdrawing the money and opening up a new account.

Any other suggestions?

I would appreciate a prompt response as I must make a

decision.

Thank You,

--name removed--J.--name removed--

[email protected]


Asked on 3/23/03, 1:52 pm

1 Answer from Attorneys
Staff General Counsel LawyersCollaborative

Re: Mother's bank account in jeopardy

First of all, your aunt could not have simply "decided to add her name to the account." Any bank generally would require your mom's written consent before the bank would add the aunt's name.

Second, your mom certainly could withdraw all the funds and open a new account in just her name - in fact, this would likely be the easiest method to get the aunt away from the account.

Finally, however, if your mom is "mentally incapacitated" to make financial decisions, then perhaps you should have a guardian appointed for her, to administer her financial affairs. You could seek the appointment yourself if you want. Feel free to call me at the office if you would like to discuss this further, at 401-941-7771. Thanks, Scott

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Answered on 3/23/03, 5:30 pm


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