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I NEED TO CLOSE MY FATHER'S P.O.D. ACCOUNT. I AM ONE OF THREE BENEFICIARIES ON THAT ACCOUNT AND ANOTHER BENEFICIARY IS DECEASED.

Sacramento, CA |

I AM EXECUTOR OF THE WILL WHICH CONTAINS A 90-DAY CLAUSE THAT SHOULD ONE OF THE SIBLINGS DIE WITHIN 90 DAYS OF MY FATHER THAT PERSON SHALL BE CONSIDERED AS HAVING PREDECEASED HIM. THE THIRD BENEFICIARY IS MY ELDEST SISTER WHO HAS SUBMITTED HER NOTARIZED LETTER OF INSTRUCTION PER BANK'S REQUEST AND I HAVE SUBMITTED MINE ALONG WITH BOTH DEATH CERT. AND COPIES OF THE WILL. STILL, THE BANK WON'T RELEASE THE FUNDS AND NOW WANT ME TO FILE EXECUTOR OF MY DECEASED SISTER'S ESTATE WHICH WOULD MEAN GOING TO N.CAROLINA SINCE THIS APPARENTLY HAS TO BE DONE IN PERSON. THIS IS NOT AN OPTION! HELP!!!

Attorney Answers 5


  1. Best answer

    Depending on the amount of money involved, you may be able to use a small estate proceeding for your sister's portion. That would avoid the need for probate. You should visit with a probate lawyer to determine if this will work. If your sister was a resident of NC, then you would want to discuss this with an NC attorney. See here for more information: www.nccourts.org/forms/documents/735.pdf‎

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!


  2. A POD account is not usually governed by the will. If your sister survived you, she is entitled to a share of the account which automatically vested in the three beneficiaries at the death of your father. The bank should pay you your share and hold your sister's share until her estate is opened. Consult an attorney for help.

    The above answer is not to be considered legal advice and should not be relied upon as such. You should consult your attorney for specific legal advice as to your individual situation.


  3. The terms of the will have no bearing on the P.O.D. account. Unless the beneficiaries of the P.O.D. account were joint beneficiaries, the bank can require that your deceased sister's estate be probated. This is not as daunting as it sounds, as you may be able to do this by a small estate affidavit and conduct the whole process by mail.

    Please note that I am answering this question as a service through Avvo but not as your attorney and no attorney-client relationship is established by this posting. An attorney-client relationship can only be established through signing a Fee Agreement and paying the necessary advanced fees.


  4. Your question doesn't identify what county in North Carolina you are needing to deal with. If you want to provide that information, I can probably give you a contact here in NC or you might want to use the "find a lawyer" tab here on Avvo to locate an attorney in the county you are dealing with. I doubt that you would have to personally appear but in any event it sounds like you need to talk with an NC lawyer.

    It is impossible to give specific answers to questions without meeting and fully discussing all of the potential issues that may not be addressed by your question. The answer(s) provided should be considered general information and are not legal advice. Viewing this information is not intended to create, and does not constitute, an attorney-client relationship. The answer provided is intended to educate you and point to issues for you to raise in a consultation with a lawyer. You should not take any action that might affect your claim(s) without first seeking the professional opinion of a licensed attorney.


  5. I take it that your predeceased sister lived in N. Carolina. I'm not sure why the bank can't at least release 1/3 of the funds to you and 1/3 to your living sister and hold the remaining 1/3 until your sister's estate rep provides the bank letters of administration. Have you requested that option? If there's a lot of money at stake, it seems like it would be worth it to probate your sister's estate even if it means making trips there. Didn't anyone start that process after she died? Anyhow, if there's enough money at stake, that's a good reason.

    If this information has been helpful, please indicate below. Stephen Pearcy is licensed to practice law in California. The response herein is not legal advice and does not create an attorney-client relationship. The response is for legal education and is intended to provide general information about the matter within the question.

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