Q: Accessing my deceased father's checking account?
His first and last name are same as mine. Before he passed we did a notarized will naming me as sole beneficiary. We also have a signed a notarized POD (PAY ON DEATH) for his checking account naming me beneficiary which I did upload to the bank, although I've heard nothing from them. I've been drawing money from his checking account via his atm card, and direct transfers to my external account which is tied to his. There are no other children and he was widowed when he passed. Am I breaking any criminal laws? Thank you in advance.
A: I am very sorry for your loss on the passing of your father, please accept my condolences and sympathy for you and your family at this sad time. Generally, any assets with a pay on death designation will go directly to that named person. Whether you should be taking money out before hearing from the bank on the POD documents is definitely highly questionable and problematic potentially because it is not clear if those documents are valid and or accepted. Any assets in your father's name alone without joint ownership, rights of survivorship, pay on death or transfer on death would need to likely be probated in some manner. If your father owned any real estate (Homestead) or other property and it is in his name alone, those assets would have to be addressed via probate as well. Since you are the only beneficiary of the estate with no surviving spouse or any siblings, then nothing likely will come of all these things, but any assets in your father's name alone, if any exist will need to be addressed. I would encourage you to consult with a Florida Probate Attorney per the above issues or any other matters related or potentially related to probate.
Bruce Alexander Minnick agrees with this answer
A:
I agree with Mr. Gunthert about the possible need for a Probate action, but I wanted to focus on the bank account questions directly.
1. If you are your father's sole beneficiary then you are entitled to whatever amount of money in his bank account(s), at least someday.
2. Since there are no other beneficiaries, and since you also have a notarized POD the bank should recognize the POD because they can compare his signature on the account(s) to the signature on the notarized POD.
3. As to "criminality," not to worry. The only person who could complain to the police is your deceased father.
1 user found this answer helpful
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