Legal Question in Wills and Trusts in Massachusetts
how to access cd and saving when there's no will
my cousin lived with me until his passing. He is unmarried with no children, an only child, with both parents deceased. another cousin, who lives in another state and hasn't seen him in over 25years, thought that his name was added to bank accounts, but it wasn't. He has a large savings and several cds. How can those be used to pay for funeral expeses and then distributed.
2 Answers from Attorneys
Re: how to access cd and saving when there's no will
You, or one of your cousin's next-of-kin, should seek appointment as administrator of his estate, assuming that there is no will.
Once appointed, you can then use the proceeds of the savings account and CDs to pay any outstanding funeral expenses, administration expenses (including accountant fees and legal fees as necessary), and outstanding debts of your deceased cousin. You are well advised to contact a local probate attorney convenient to your area.
If you are not aware of any, you might wish to contact the Massachusetts Bar Referral Service, which should be listed in your local yellow pages.
Re: how to access cd and saving when there's no will
You need to file a Petition to open your cousin's estate and get yourself appointed as executor. You should contact your cousin's only other relative and ask them to consent to your appointment.
You then get the court to issue Orders allowing you to pay the funeral expenses and the deceased's other expenses.
The balance if any will be distributed in accordance with the MA statutes governing intestate sucession. If you need assistance please do not hesitate to contact me.