Legal Question in Banking Law in New York
Check
My grandmother gave my Uncle POA to write 5 $10,000.00 checks to her 5 grandchildren, then she died. He wrote and distributed the checks, He was able to write the checks after her death because he worked for the issueing financial instituion. He then proceeded to put a stop payment on 3 of the checks. My lawyer says that NY state law says since the money never entered my account, I can not sue him , or do anything about it.Ny law says checks aren't considered completed until the money clears. The other 2 people have their 10,000 because he did not stop payment on their checks. The finacial institution says that all monies should be returned to the account but won't enforce it, and now says the matter is closed.My uncle is able to do this because he works for this very large finacial instituion. Is their anyone to report this to? I tried the SEC but they had no reply. What he is doing is illegal, I just can't get anyone to do anything about it.
1 Answer from Attorneys
Re: Check
The proper course of action is to challenge your uncle's actions in the probate court when your grandmother's estate is being settled. The POA was invalid at the moment of your grandmother's death, but her intentions are evidenced by the checks.
I hope this helps.
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