Can a CD with POD be challenged? It was created in 06 the same time as ammendment to her trust.

Asked over 1 year ago - Cocoa, FL

I am now her legal guardian and the second trustee to her trust. First trustee left in 2011. She has a trust stating there are monies with POD - Original Trust date 2004-ammendment to the trust in 06 and a few months later POD on accounts was created. She was deemed incompatent in 2011

Attorney answers (4)

  1. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    4

    Lawyers agree

    Answered . Most common reasons for challenging are undue influence or incompetence.
    You will need proof that will hold up in court to be successful and it will be expensive and time consuming.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more
  2. Carol Anne Johnson

    Contributor Level 18

    3

    Lawyers agree

    Answered . Has the settlor been adjudicated incompetent (by the court)? If so, challenging a trust that was created when she was considered to be competent will be hard to do. As Attorney Pippen points out, the burden will be upon you, at least initially, to prove that there was undue influence and that the defendant assisted in procuring the trust from which they are to benefit. If you can provide sufficient evidence, the burden then shifts to the respondent to prove that there was no undue influence. This is not something that you should undertake yourself. A good trusts and estates litigation attorney can assist you greatly in this process.

    Carol Johnson Law Firm, P.A. : (727) 647-6645 : carol@caroljohnsonlaw.com : Wills, Trusts, Real Property, Probate,... more
  3. Dennis Michael Phillips

    Contributor Level 17

    2

    Lawyers agree

    Answered . Challenged by whom and for what purpose? The CD is not a probate asset; and the Pay on Death beneficiary designation keeps it out of probate. So, if anyone wanted to challenge it, they would have to include the bank in the proceedings.
    Why did you mention the 04 and 06 dates? She wasn't adjudicated as incompetent until 2011; but the POD designations were created in 06 or 07. She wasn't considered incompetent then.

    Dennis Phillips is an attorney and financial planner based in South Florida. He is a member of the Florida bar, he... more
  4. Eric Jerome Gold

    Pro

    Contributor Level 19

    2

    Lawyers agree

    Answered . My colleagues have provided you with sound advice on this issue. The burden would be on you to establish that the accounts at issue were created as a byproduct of undue influence or incompetence. This will be a very costly process. This is not a do-it-yourself project, if you decide to proceed. If you need a referral to an attorney, try the local bar association or the Avvo Find a Lawyer tool.

    ** LEGAL DISCLAIMER ** My response above is not legal advice and it does not establish an attoreny-client... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

24,520 answers this week

3,011 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

24,520 answers this week

3,011 attorneys answering