If a POD CD in CA list two payees and one of the payees is deceased, does the account then go to the remaining survivor or to the remaining survivor and the deceased's heirs?
I once dealt with this issue in New Jersey. The law in NV may be different and it is also advisable to review the signature card and "contract" with the bank as well as with an attorney. However, the result in the case I dealt with (with may or may not have any bearing on your matter) was that the remaining POD beneficiary would take the entire sum.
This is not legal advice nor intended to create an attorney-client relationship.
It sounds as if the account is in CA. Was the decedent a CA resident? If so the issue will be resolved by law of the state where the Decedent resided not where the beneficiary resided, which in this case I think is CA.
The POD designation on an account is akin to a contract. Thus it depends upon the terms of the designation card. If you are the surviving POD beneficiary, I suggest making an inquiry of the bank, obtaining a copy of the card and reviewing the matter with an attorney before attempting to withdraw the monies. If you are the deceased POD's estate representative, I suggest contacting the bank and providing them with a copy of your court authority to act on behalf of the deceased POD beneficiary's estate and requesting a copy of the card. Either way I would consult an attorney.
This response is not intended to create an attorney client relationship. The response is solely intended to answer the question presented. Additional facts and issues are unknown to the responding attorney. Should you still have questions, legal assistance should be sought by making an appointment to meet with an attorney, rather than attempting to resolve the issue via e mail. This response is merely provided to give direction to assist you in the decision of whether you should contact an attorney or not.
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