Legal Question in Wills and Trusts in Kentucky
certificates of deposit payable upon death
my father died january 15, 2004. i am on his bank account as payable-upon-death and he also had 2 certificates of deposit, one certificate had me listed as beneficary, but the other one did not (bank failed to get proper paperwork). I was given cashier checks for bank account, cd with beneficary, but would the bank would not give me the other cd because a beneficary was not listed, i am also his representative in his will to see that all assets are taken care, how can i collect on this certificate of deposit
1 Answer from Attorneys
Re: certificates of deposit payable upon death
Your father's will MUST be probated in the District Court of the county of his residence. You will then receive an order naming you the Executor (if you are so named in the will). After you obtain an employer's identification number from the IRS, and with this and the Court Order, the bank will turn over all of your father's assets. If you want to find out how to do this, you need to speak to a local attorney. If the will is not probated, then it is just a peice of paper. If it is not probated within ten years, then it cannot be probated. At that point, your brothers and sisters, if there are any, may come into a share.
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