Q: Can a Credit Union drain account to pay for credit card immediately after death?
I am joint owner of the bank account and will be the estate executor and now have no money to pay for funeral.
Edit: The Joint checking account and credit card are both with the credit union. I am not a cosigner on credit card. My mother passed away last week and upon notification of her death, the credit union automatically withdrew the money from the checking account to pay credit card balance, leaving no money for funeral. I was under the assumption that they would have to wait for probate and would be not take priority over funeral.
A: ... hello ...
... could you kindly elaborate on your concern? ... I am not quite sure what you are asking ...
A: You really need to find out the terms of the bank agreement. If it is spelled out in the credit union's fine print, it then may be legal to do so. Get them to provide you the contractual provision where it justifies this action. Once you have the definitive legal authority for their actions, then you either are satisfied with their answer or if not seek estate counsel.
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