Legal Question in Civil Litigation in Florida

What to do when bank does not distribute funds to beneficiaries

What type of petition or complaint can be filed to get a bank to distribute my share of my deceased mother's funds (CDs, Checking and Savings Accts) to me since my sister refuses to provide the necessary release letter to the bank?

My mother passed away without a Will. However, my sister and I were named as beneficiaries(POD) on my mother's banks accounts. However, the bank cannot distribute funds until they receive written authorization from my sister -- who lives in California -- to distribute the funds. My mother passed away in Dec 2000 and my sister refuses to send the bank the necessary letter so they can distribute the funds (her husband inhereited money last year and she says she doesn't need the money right now). She signed one letter authorizing the bank to distribute funds from 1 out of 4 CDs my mom left us...even the bank could not believe this situation but there's nothing they can do unless they have a release letter or a court order. THANK YOU!!!!! Desperate from Florida


Asked on 8/08/01, 2:28 pm

2 Answers from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: What to do when bank does not distribute funds to beneficiaries

The simple answer is to file a probate of your mother's estate. The Court will appoint a Personal Representative who will oversee the administration of your mother's estate including the funds in the accounts which you mentioned. The Personal Representative will place the monies in a restricted depository and then upon motion and order of the Court, make a distribution to the appropriate beneficiaries.

This is a serious legal matter. I strongly suggest that you consult with an attorney over the specifics of your problem who can more clearly answer any of your questions.

Scott R. Jay, Esq. 305-249-8000

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Answered on 8/08/01, 9:14 pm
Joel Cohen Joel M. Cohen,P.A.

Re: What to do when bank does not distribute funds to beneficiaries

It seems to me that you are already the co-owner of these funds. The account was held as "POD" , so the accounts never become part of the estate. Therefore, I dont see what good a probate petition would do. The bank can disburse your share directly to you if the terms governing your account allowed for that (get a copy of the signature card creating the relationship). In any event, a lawsuit against your sister may bring rapid results as she would be forced to defend...you possibly could be awarded attorneys fees from her share as well. No "easy" answers here, but room for creativity in resolving this challenging question.

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Answered on 8/09/01, 8:36 am


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