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Legally who gets the money?
Our father passed away and he had money in a CD account with his name on it and his sister. Some weeks after the funeral/wake she claims the CD is owed to her and his other sister (if that was the case why wasn't there 2 CD accounts established?) from when he bought the sisters out on their parents house after they passed. To prove they were paid in full (both of them) I was going to order the HUD Settlement statement but I'm not sure if it's going to be a waste of time. Our father had a safty deposit box which his sister can get into and our mother. Were all at the hospital while the sister couldn't wait to get to that box. After a few days she claims that the only thing in the box was a title to his vehicle.
My question is, if I get the HUD to prove that both sisters were paid in full, who is legally entitled to the CD money account?
Thanks
P
7 Answers
- 1 decade agoFavorite Answer
Financial documents stand alone.
A Certificate of Deposit that was put into the bank with TWO names on it belongs to those two people. They hold it in joint ownership meaning that if one dies, the other inherits. The money belongs to the ONE sister who had her name on the account. The other sister, the children, everyone else get nothing of that CD.
The whole issue of buying out a house and all that is irrelevant to the CD account. Even if he left a will the CD money would still go to the sister as a joint owner of the account.
Sounds like your father screwed up.
- lingLv 44 years ago
You had an contract inclusive of your brother, not his business enterprise. you at the instant are not entitled to any money from his business enterprise, yet you're entitled to money out of your brother. in case you brother stated he might pay you to help him pass, he could pay you out of his very own pocket. you weren't element of a registered business enterprise on the time of the pass, so there is no way you will get any money out of your brother's business enterprise.
- Anonymous1 decade ago
agree with ChaRiaLe
And for the Safety Box if your name ISNOT on for you to sign
you out of luck
- wizjpLv 71 decade ago
Get a probate atty. There are too many variables and not enough info to tell you.
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- Elliott JLv 41 decade ago
Im a former stockbroker.
Your father had the cd in his and his sisters name because the acount was set up as a JTWROS. Thats: Joint Tennants in Common With Rights of Surivorship. It's possible that it could have been set up as a JTIC. Joint Tennants in Common which could create a loop that you could exploit.
On the surface, it's a done deal.
There may be litigating circumstances that only a probate lawyer from your STATE could answer as to the final disposition of the funds.
Also, have the opportunistic sister provide you with the ORIGINAL and MOST RECENT safety deposit record. If she resist, she may be hiding things from you that you might or should have claim to.
Have legal represenation do this on your behalf, don't do this on your own.
- ChaRiaLerLv 41 decade ago
I'm not a lawyer but I would think that the CD would belong to the individuals named on the CD. If only one sister is on the CD than, unfortunately, only the one sister is entitled to the money on the account.
