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how to get money in bank with auyo loan as collateral, and i am benefecary,p.o.d

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gfosh

Junior Member
i am p.o.d on my dads saving account, iwas gonna get the money out but bank said they wouldnt release it because he has a auto loan through them and it was collatoral on the vehical, so i would by the truck but i was told if i did that it would have to go under the estate when they probate the will, so is there a way to get the money or the truck without losing bothWhat is the name of your state (only U.S. law)? alabama
 


Zigner

Senior Member, Non-Attorney
i am p.o.d on my dads saving account, iwas gonna get the money out but bank said they wouldnt release it because he has a auto loan through them and it was collatoral on the vehical, so i would by the truck but i was told if i did that it would have to go under the estate when they probate the will, so is there a way to get the money or the truck without losing bothWhat is the name of your state (only U.S. law)? alabama
You may need to open probate. Your state may have a simplified process for small estates.
 

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