Q: What can I doto prove to banks that POA can close CD'S in trust and transfer to trust acc. grantor, bank,trust is in FL
Grantor is in assisted living and can't leave. She has CD'S at many banks held in a grantor trust. She wants POAs to close them and deposit to 1 trust account.
Some of banks are wanting proof of incapacitated from DR. Poa specifically says they can do trust accounts and is not limited.
I need something like statue or article to show them they are wrong.
The trust is worded to only have successor trustee at death of grantor and that person is an attorney that died
1. There is no law or "article" that you can use to "prove them wrong."
2. The banks do NOT have to honor any third-party POA--and especially one being offered under these circumstances.
3. If you will turn this around and look at it from THEIR position you would end up understanding why: They are liable.
4. Having said that, I will say that all banks go overboard trying to "protect their depositors"--especially when they know that the money in the CDs will soon disappear.
5. This SNAFU can be fixed--but not here talking about it online.
6. My name is Bruce Alexander Minnick, Esq.
7. and my email is firstname.lastname@example.org
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