Bank account Beneficiaries

[erin h]

What is the name of your state?What is the name of your state? CA

My husband was the beneficiary on his father's Certificate of Deposit account. There is a trust and the wife of my husband's father produced a handwritten, un-notarized addendum to the trust that now distributes 60% of the CD account to her, along with other major changes to the trust.

The bank issued a cashier's check to my husband, but we want to know if this money is really his since there is this un-notarized addendum.

 

[BelizeBreeze]

Tell step-mom nice try but no cigar.

 

[IAAL IS HERE]

Tell step-mom nice try but no cigar.

Not so fast, Kimosabi. I believe our writer's husband may be in for a big surprise, and be in some trouble. They should read Estate of Archer 193 Cal.App.3d at 244, 239 Cal.Rptr. at 140-141. If a first testamentary document is signed and otherwise meets the Probate Code § 6111 requirements, a subsequent unsigned handwritten codicil may "adopt" the signature of the original holographic will (or codicil), making the two documents admissible together as a valid holographic will. Additions or alterations to a holographic will made after the date it was signed, when made in the testator's handwriting with testamentary intent, operate to adopt the old date and signature.

 

[BelizeBreeze]

Not so fast, Kimosabi. I believe our writer's husband may be in for a big surprise, and be in some trouble. They should read Estate of Archer 193 Cal.App.3d at 244, 239 Cal.Rptr. at 140-141. If a first testamentary document is signed and otherwise meets the Probate Code § 6111 requirements, a subsequent unsigned handwritten codicil may "adopt" the signature of the original holographic will (or codicil), making the two documents admissible together as a valid holographic will. Additions or alterations to a holographic will made after the date it was signed, when made in the testator's handwriting with testamentary intent, operate to adopt the old date and signature.

Touche'
Now we have to determine if the codicile is in dad's handwriting and that is an expense that dear old stepdad can assume on his own.

 

[erin h]

bank account

I am the son of which Erin has the question ,the bank said I was the only beneficary on the bank account-the bank gave me a check ( after I checked with the trust attorney who said that it is outside of the trust)The wife in question married my father while he was terminally ill 5 monthes ago and produced a hand written addendum stating that it all belong's to her(In her hand writing allthough it looks li my fathers signiture on the note book paper)
She has been well taken care of but seems to want it all.
I don't know what to do,I have put the money in a safe account wondering if I'll get in trouble if I touch it.
Please help
Thanks

 

[BelizeBreeze]

I am the son of which Erin has the question ,the bank said I was the only beneficary on the bank account-the bank gave me a check ( after I checked with the trust attorney who said that it is outside of the trust)The wife in question married my father while he was terminally ill 5 monthes ago and produced a hand written addendum stating that it all belong's to her(In her hand writing allthough it looks li my fathers signiture on the note book paper)
She has been well taken care of but seems to want it all.
I don't know what to do,I have put the money in a safe account wondering if I'll get in trouble if I touch it.
Please help
Thanks

Come back with EXACTLY how the account was titled.

(i.e. Joint account with OR between the names or Joint Tenent with Rights of Survivorship).

Be VERY SPECIFIC.

 

[erin h]

bank account

The bank told me i was the sole ben. and that no one elses name was tied to that account. I also checked with the trust attorney who said she can not see the account tied to the trust in any way.The hand written aden. ( in the wifes hand writing) states that she has a right to it. This adden.
has thrown things into probate but the attorney has stated that it has a snow balls chance of ever making through court.I'm just not sure where I stand in all this.
Thank you
Rick H.

 

[BelizeBreeze]

The bank told me i was the sole ben. and that no one elses name was tied to that account. I also checked with the trust attorney who said she can not see the account tied to the trust in any way.The hand written aden. ( in the wifes hand writing) states that she has a right to it. This adden.
has thrown things into probate but the attorney has stated that it has a snow balls chance of ever making through court.I'm just not sure where I stand in all this.
Thank you
Rick H.

Well then, since you didn't feel my question was worthy of answering, I'll leave you to find the answer for yourself.

 

[erin h]

Trying to reply

undefinedI don't know how to answer the question specific because the bank gave me no more information than sole ben.
I am back in oregon now and am not sure how to get any more info.
Thank you
Rick

 

[BelizeBreeze]

undefinedI don't know how to answer the question specific because the bank gave me no more information than sole ben.
I am back in oregon now and am not sure how to get any more info.
Thank you
Rick

That little invention called a telephone.

Call the bank and ask them exactly how the account was held. WORD FOR WORD.

 

[Dandy Don]

It is most likely in the decedent's name only.

What type of trust is this and do you know whether it was prepared with the assistance of an attorney or not?

Were there witnesses to the codicil? If so, how many were there?

Does this trust have a pour-over will? That is the only way that it could claim the CD. If there is no pourover will, and even if there IS one, you have a better chance of being able to claim the CD in its entirety if you have your attorney look at probate code 6111 to see if any of the requirements fit your exact situation or not (I would think a probate code only applies to wills and not trusts).

It was wise to set aside this money until an exact determination is made, but I think your husband is going to come out the winner without having to give up anything, since beneficiary designation normally overrides what a will/trust says, and since decedent didn't take the necessary steps to title this into the trust.

DANDY DON IN OKLAHOMA ([email protected])

 

[erin h]

I have the info.

undefined

That little invention called a telephone.

Call the bank and ask them exactly how the account was held. WORD FOR WORD.

The bank said the account was in my fathers name only,That I was the only bene. and that it was POD.
Hope that helps but it is all the bank has on computer
Thanks
Rick H
P.S. The phone does work

 

[erin h]

the bank account

undefinedThe bank has told me that my fathers name and no one elses was on that account,that I am the only benef. on the account and that it was payable on death-POD.
Hope this helps
Thank you all for your help
Rick H

 

[erin h]

Bank Account Beneficiary

The bank account was in the decedent's name only. My husband was on the account as beneficary, POD.

The trust is a living trust and was drawn up by an attorney specializing in trusts and probate. The attorney did state that the addendum had nil chance of making it through the court, but the wife insisted.

The addendum has two witnesses, the friend of the spouse and the friend's husband. The addendum is written in another person's (unknown) handwriting. We have not tried to determine if the signature is actually the decedent's.

I do not believe there is a pour over will. We have not received a copy of the trust, but I believe we are supposed to.

thanks for the advice.

It is most likely in the decedent's name only.

What type of trust is this and do you know whether it was prepared with the assistance of an attorney or not?

Were there witnesses to the codicil? If so, how many were there?

Does this trust have a pour-over will? That is the only way that it could claim the CD. If there is no pourover will, and even if there IS one, you have a better chance of being able to claim the CD in its entirety if you have your attorney look at probate code 6111 to see if any of the requirements fit your exact situation or not (I would think a probate code only applies to wills and not trusts).

It was wise to set aside this money until an exact determination is made, but I think your husband is going to come out the winner without having to give up anything, since beneficiary designation normally overrides what a will/trust says, and since decedent didn't take the necessary steps to title this into the trust.

DANDY DON IN OKLAHOMA ([email protected])

 

[erin h]

Bank account Beneficiary

Sorry Belize,

My husband gets flustered and has obviously frustrated you. I apologize and do appreciate your advice.

The account, according to the bank, was in the decedent's name only, First name, middle initial, last name. Nothing else.

My husband is in their database as beneficiary, first name, middle initial, last name, POD.

Hope that helps.

Wife of flustered hubby.

Well then, since you didn't feel my question was worthy of answering, I'll leave you to find the answer for yourself.