Legal Question in Wills and Trusts in California
no beneficiary listed
My father passed away 01/2003.He left 2 cd's.HE made.He resided with sister in ca.They made verbal agreement to put her as beniciary on one cd and to give the money to his children. She has broke agreememt and is going to keep it. The other cd had no beniciary listed.She is trying to cash that one in also.Can she do that?I assumed that the remaining cd should go to his children. I do not have access to the document and dont know the financial insitution holding the account.Is there anything i can do to receive the money my father intended to leave to his children.
3 Answers from Attorneys
Re: no beneficiary listed
You may need to obtainl legal help in or near the county in which your father was living at the time of his death.
Re: no beneficiary listed
The verbal agreement may be difficult to prove, but if it could be proven you may be entitled to that CD. Regarding the other, if no beneficiary or joint owner is listed, it (and other property in your father's name alone) would go to his heirs or those people named in his will, if any.
If the assets are under $100,000, you can claim them by an affidavit. If over $100,000, probate is usually required.
Re: no beneficiary listed
Assuming your father did not have a will, you and your siblings should be entitled to the second CD. Whether you can receive anything from the first CD is an issue of proof. According to the facts you presented, you should prevail, as your aunt was holding that as trustee under a verbal trust agreement for you and your siblings. If he also told your siblings about this verbal arrangement, that would be helpful. Your aunt undoubtedly will tell a different story, so its a question of who a court would believe.
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