Asked in Estate Planning for Oregon

Q: Can my brother transfer my deceased dads bank account into his own personal account without being appointed executer?

We are in process of gathering things together for probate and he just did this transfer 3/27/17

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1 Lawyer Answer
Joanne Reisman
Joanne Reisman
Answered
  • Estate Planning Lawyer
  • Portland, OR
  • Licensed in Oregon

A: One does not need to be an executor to move money from one bank account to another if one is listed on both accounts as an account owner or if one is listed as a POD (pay on death) beneficiary. Most likely your dad had added your brother to his account to give him access. That was probably with the intent that your brother help him manage his financial affairs, not to leave the money to your brother at his death. The bank has no way of knowing what your father's true intent was in adding your brother and if your brother's name is on the account, the bank can legally treat your brother as a co-owner with all the rights of an owner. This doesn't mean that your brother gets to claim the money as his. If it can be proven that your brother was only put on the account as a trusted agent to help your dad with his financial affairs then your brother has to treat the money as money of the estate, whether or not your brother has been appointed as PR. If that is the case and if your brother is willing to admit that the money is really your father's money, it doesn't matter that it is now in another account as long as your brother continues to treat the money as the money for the estate and uses it to pay your dad's final debts and funeral costs and ultimately shares the remainder with the beneficiaries. See: https://www.oregonlaws.org/ors/708A.470

There is also a statute in Oregon that allows a bank to release funds in an account to a person who completes the appropriate affidavit if the funds are $25,000.00 or less. See: https://www.oregonlaws.org/ors/708A.430

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