POA on savings account
This is a discussion on POA on savings account within the Wills, Trusts, Estates forum, part of the FAMILY LAW, DIVORCE, CUSTODY category; My brother recently passed away. He had a small savings account ($3,000) with a friend signed as POA on the ...
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My brother recently passed away. He had a small savings account ($3,000) with a friend signed as POA on the account. He did not have a beneficiary listed on the account. He was not married, had no children, and had no will. He had bills that totaled more than what was available in the account. A few days after his death the friend listed as POA on the account took half the money from the account and did not notify the bank of his death. Was this legal? How do we determine which bills to pay first with the remainder of the money (utility bills & doctor bills)?
My other brother, who is estranged from the family, planned and paid for a cremation. He took the remains of my deceased brother and my father (my mother is no longer living) does not know where they are. This brother cleaned out my deceased brother's house, without my father's consent. Can he now come forward and claim the rights to the money left in the account because he paid for the 'funeral', before the bills get paid? What rights does my father have to the money left in the account? He (my father) did not assign him to be the adminstrator/executor of my deceased brother's estate? What rights does my father have to the remains of my deceased brother? |
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The POA may have expired on death and in most cases the holder cannot take the funds--ask to see it.
Your brother cannot pay and then take funds on his own--he has to do it according to estate distribution rules. |
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