One of the people on the POD has check writing power for the deceased they are not a owner of the account and we were wondering if that signature power was still good with the death of the account owner
Estate Planning Attorney
Yes, at the instant of death the account becomes the property of the named POD Beneficairies. Any signature authority of the person existing before death would terminate as theaccount now belongs to multiple parties. What you need to do is present a death certificate, the bank will then divide the account accordingly and issue a cashier's check for your portion. If you are concerned, be sure that the POD person with check writing authority did not write checks after death.
Best of luck.
Mr. Post is licensed to practice law in KS and MO. The response herein is not legal advice and does not create an attorney/ client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply unsuitable. Mr. Post strongly advises the questioner to confer with an attorney to ensure proper advice is received.
1 found this helpful