grandpas svings account

[melissajason]

grandpas savings account

My husbands grandfather passed away. In his savings account he had over $45,000. My husbands uncle is his power of attorney and beneficiary but on the savings account is another person. Now my question is, being the fact that this person is not the beneficiary, who and where does this money go? This is trying to be dealt with in the state of Florida.

[Edited by melissajason on 06-11-2001 at 01:06 PM]

 

[advisor10]

JUNE 11, 2001

DEAR MELISSA:

Who is the "other person" on the savings account? It is that person who will legally become the person who is automatically the recipient to get this money without it going through probate (called joint tenancy). All this person needs to do is to contact the bank to claim the money.

Your husband's uncle's power of attorney expires on the date of the grandfather's death and he is not legally eligible to claim this money.

Did your husband's grandfather have a will?

SINCERELY,

[email protected]

 

[melissajason]

Yes grandpa has a will. The uncle is also grandpas executor. Does that mean anything? The other person is the stepson of grandpa and the only reason he was on the account was in case of emergencies. This man never put any money into the account. It was all grandpas money.

[Edited by melissajason on 06-11-2001 at 06:52 PM]