Legal Question in Wills and Trusts in Connecticut
How do co-beneficiaries get payment upon death funds divided 50%
I am a co-beneficiary and P.O.D. on a bank account. Funds have been issued in checks with the other beneficiaries on it. How do we get separate checks? It is inconvenient for us to all meet?
Asked on 7/03/09, 11:38 am
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: How do co-beneficiaries get payment upon death funds divided 50%
One of three ways: (1) All named persons can authorize one to endorse and deposit the check and split the proceeds, or (2) return the check to the issuer and request that separate checks be issued. Be sure that all names and addresses are supplied, or (3) if there is an attorney for the estate, all persons can authorize he endorse the check, deposit it to his attorney trust account and disburse the proceeds.
Answered on 7/03/09, 11:57 am