Legal Question in Wills and Trusts in New York

MY Sister-in-law had power of attorney for father-in-law who passed a way two weeks ago, she also states that she was named executor of the will. A CD of my father-in-law matured at the time of his death and my sister is given out money from this CD to my husband and the will has not been filled with surrogate court/probate court. Can she do this? Also, does power of attorney stop when the individual who they had power of attorney for dies? My father-in-law's estate is more than $30,000.00. What should we do with the money she has given us? Put it in an account until the will has been probated?


Asked on 8/10/09, 2:08 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

I do not know how the CD was registered, individually or in some other form of registration. If not individually, she may be following the registration, or she is following either the Will or her father's instructions. You do not say if only your husband got the proceeds, or if the proceeds foloow what was in the Will? POA automatically expires with the death of the maker of it. I suspect your SIL is acting properly, but informally, to try to save some probate costs by distributing the proceeds bedore the Will is probated. She must eventually account for this as Exeutor or as POA.

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Answered on 8/15/09, 2:25 pm


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