Any Bankers Here

[Blastoderm55]

Here's the situation:

My fiancee's grandmother passed away last year on Christmas Eve, leaving behind a single bank account as her only cash asset.

Her daughter, Lupe, my fiancee's mother, was added as an authorized user on the account in 2000, and was given the appropriate bank card in order to access the funds for her mother who had no way of going to the bank on her own.

Fast forward to today. Lupe has been refused access to the account because according to the bank, she was never added as an authorized user. Odd, given that she has her own bank card with her name on it. In order to access the funds, the bank is demanding that she get a lawyer to settle in court. Said lawyers have been called, and will only provide service if they are given half of whatever is in the account. If no lawyer is hired, Lupe will have no power and the bank will keep the money that should have rightfully been passed on to her.

So my question is this:

Is there anything she can do outside of hiring a lawyer in order to gain access to the funds? She spoke to the branch manager of the bank, and he is the individual who told her of the restrictions. I believe the institution is a federal credit union in S.A, but I'm not sure as to which. Any help is appreciated.

[pirate4state]

Darn those greedy lawyers :D and bank sticklers. :mad:

I think I need a better understanding of what is going on. I'm confused. She still has the bank card, but can't get to the money? Did someone close the bank account? If she hadn't alerted the bank she probably would already have the money.

[Blastoderm55]

The problem is that the card isn't quite an ATM card. The account in question is a saving account, and the card is more for account identification than for access. The card has both names as authorized users, but she still has not been granted access.

[pirate4state]

So, it sounds like she wasn't properly added to the account. Check with the bank and see if they will accept a small estate affidavit. If they do you should be able to find one online and if you can't I might be able to help. ;)

[AP Panther Fan]

P4S, I think you are correct in that she probably wasn't added to the account as she thought she might have been.

Rather than adding a joint owner, alot of older customers will add someone as a "convenience signer" due to health or mobility issues. These convenience signers are only allowed access to the account while the account owner is still alive, much like a power of attorney for an individual is only effective while the person is still living.

If however, she was listed as a POD (payable on death) beneficiary, she would only have to provide a copy of the death certificate in order to access the funds, close the account etc....

Banks have to be very careful and unfortunately almost have to watch the obituaries because of social security benefits. In the case of your fiancee's grandmother, she more than likely had social security benefits being deposited monthly, even her January benefits were probably paid and will now be re-claimed by the social security administration...so hopefully you can understand the need for restricted access after death.

I am sorry the family is having to deal with this...as if it isn't bad enough already, right? :(

[Blastoderm55]

Yeah, its been a tough month for them. The life insurance had been refusing payment, but finally cut a check to the funeral home after receiving the death certificate a wee bit late.

As for the account, its been resolved thankfully. She went above the authority of the branch manager, and will gain access to the account granted she supplies the bank with death certificate, receipt from the mortuary and cemetary, and photo ID and social security.

Thanks for the help guys. :)

[pirate4state]

Glad it worked out!

[BuffyMars]

Txbroadcaster's mom is the Pres. of a credit union...and a HS football fan...hehe...

[AP Panther Fan]

Glad that it has been resolved. You are absolutely correct in that those funds can cover funeral expenses. We quite often get an indemnity letter along with a death certificate which allows us to remit funeral expenses straight to the funeral home.

Blah, bad subject on a Friday afternoon.

[AP Panther Fan]

Originally posted by BuffyMars
Txbroadcaster's mom is the Pres. of a credit union...and a HS football fan...hehe...


See....even bankers enjoy life every now and then.:D

[Phil C]

When my grandmother passed away my father and his sister went to the bank to get her things out of her safety deposit box. They were going to let them get it then but the banker asked how my grandmother was and they told them she had passed away. Well the bankers then refused (they had not choice) to let them into the box. They had to get a court order to let them in. It wasn't difficult but they did have to go through a hazzle and time consuming thing. Still it is better to do proper procedures.

[BIG BLUE DEFENSIVE END]

I'm not a bank, but I'll take your money. :D

Seriously though, I hope you get everything figured out.