My grandfather died and left me alot of money in a cd. Ok.. My grandmother got everything exept one CD. which was left to me, In my name and my grandfathers. She has a lawyer now trying to find a loop hole so, she can get it. I never knew I had this until today. The person told, me out of trust and didn't want to get stuff started in the family. They just thought I should know what I had and the location where the cd was ect.
Does anyone know what I should do? Are have ever heard of this before? I just don't know why I have not been notified by the bank about this matter? Are by her lawyer. The only thing I know is the bank will not give it to her since it's not in her name or unless I sign it over to her. They only thing that worrys me I guess if she forges my name... Who knows thanks everyone for the help.
2007-05-05 14:36:44 · 12 answers · asked by jesusloveu 1 in Politics & Government ➔ Law & Ethics
If a certificate of deposit is registered in your grandfather's name and your name as joint owners with right of survivorship, it becomes yours by operation of law.
The deciding document as regards to the ownership of the certificate of deposit is the signature card for the CD. It is what shows the intention when the account was opened. The signature card and/or other contract which constitutes the agreement between the depositors and the bank contains the specific wording which creates the right of survivorship between the depositors.
If the bank pays a certificate of deposit over a forged endorsement, the bank is liable for its wrongful acts and must make it right with you.
Under FDIC regulations, early withdrawal penalties on certificates of deposit are waived if a joint owner dies. One way that you can prevent grandma from cashing the certificate is for YOU to cash it.
2007-05-05 17:01:19 · answer #1 · answered by Mark 7 · 0⤊ 0⤋
Shame on your grandmother. If she loved your grandfather, she should follow what his wishes were, not try and take everything. I do not believe she can lay one finger on it as long as your name is on it. I would get it moved to another bank. You will probally need a death certificate to prove he is gone.....you can go right to the courthouse and get that in about 5 minutes. Will cost a couple dollars at the most. Grandpa wanted you to have that CD, let no one take it away from you.
I see someone above me stated she could get half, no she can't, don't believe that. I know better because we had the same situation in our family. My dad had left me a $5000 CD and my mother , even though quite wealthy, tried to get the $5000 CD. She was told she had no legal claim to it, by a lawyer because it was in my name. I was the only one that could lay claim to it. I was tempted to cash it in and give her the money and tell her she should be ashamed for being so greedy. I thought about my dear dad and thought,"no, this was his wishes and this is the way it will be." I loved him and he loved me and this was his one last thing he wanted to do for me. When I die, my wishes should be respected.
2007-05-05 14:59:50 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The most that she can get is half. Under one theory, now you and she own the cd, because she assumes his assets after his death. A counter-theory is that you are the sole owner because the co-owner has passed. She can fight you in court to try to get your half, and you can do the same. It is obvious that your g'father wanted you to have it, which will weigh heavily in court, however, even written wills can be challenged. She can claim that he had no right to gift a marital asset without her consent. There are no clear-cut rules; judges have a lot of discretion in how they allocate assets when someone dies intestate (without a will).
If he left a will and named you as a beneficiary, you will be notified by the atty that handled it. If she forges your name, she has obvioulsy committed a felony.
2007-05-05 14:49:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The correct answer depends on the EXACT form of ownership. If it was owned jointly with right of survivorship, you became sole owner at the moment your grandfather died. If that is the case, your grandmother has no legal claim at all. There are other forms of joint ownership in which part of the value of the CD is part of his estate. In those cases, his will would decide who owns the money.
2007-05-05 15:22:05 · answer #4 · answered by STEVEN F 7 · 1⤊ 0⤋
Technically, anything jointly - like an account - can be removed entirely by either party at any time. If your grandfather's name is on it and she's the executor of his estate she is entitled to at least half of the CD.
Unless it was a significant amount of money worth stirring up trouble in the family for, I'd let it go. She may not live much longer anyway and if you're nice about this she may include you in *her* will.
Your only other option would be to challenge her in probate court. Again, lawyers are expensive, this can drag on, yadda yadda - if it's not worth a major amount of cash, let it go.
2007-05-05 14:45:04 · answer #5 · answered by Anonymous · 0⤊ 1⤋
If you have information about the bank contact them to verify that the CD was in your name and your grandfather's name. If they verify this then see if they will give it to you in cash without penalty or turn it into a CD in your sole name without penalty. If not, hire a lawyer.
2007-05-05 14:43:14 · answer #6 · answered by Anonymous · 1⤊ 0⤋
First, eviction is purely for tenants. If this family contributors member has under no circumstances signed a hire, she isn't a tenant and in this occasion won't be able to be evicted. Eviction is a criminal technique meant to *guard* a tenant. This lady isn't a tenant, and in this occasion does not have the protection of eviction. considering she will't be evicted, you will have her arrested for trespassing. That stated, it feels like your loved ones has some distance extra suitable subjects than having this lady leave. stable luck!
2016-10-14 21:31:23 · answer #7 · answered by sedgwick 4 · 0⤊ 0⤋
First, try to verify that the CD was indeed in your name as well. If it's true, get a consultation from an attorney that specializes in wills & estates.
2007-05-05 14:54:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
sad thing is --- the one thing that changes people is money
the best thing you can do is check with more than one legal source to see what they evaluate your position is .... then go with the one who you think will best represent you
the fact that your granfather had things stated the way he did -speaks for itself
do what you can to keep the rest of the family relations intact including grandma but if money is her best friend - will see how it stands by her (in the end)
also - am sorry to read of your loss
2007-05-05 14:54:06 · answer #9 · answered by Marsha 6 · 0⤊ 0⤋
That woman has betrayed you. She is no longer your family. Treat her as an enemy because that's what she is. Contact your lawyer and inform him of the situation.
2007-05-05 14:39:48 · answer #10 · answered by jimmyb20032003 2 · 1⤊ 1⤋