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POD account... missing money

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ShiftF4

Junior Member
What is the name of your state (only U.S. law)?Florida
My father recently passed away leaving me a pod beneficiary for several bank accounts. Due to another relative barring me access to any of his records, I only just found out about another account marked as pod, I just don't who is was designated to yet. The problem is, this checking account w/ Sun Trust pays the mortgage payment on the house automatically every month, four payments since his passing. And since there was little money to begin with, now there is no money left in the account at all. As I said, I only just found about the account so as far as know the bank has not yet been informed of his passing and the mortgage payments continued as if he were still alive. My question is, if I am the beneficiary to this account, am I entitled to the money left in the account at the time of his death BEFORE the mortgage payments were taken out?
 
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justalayman

Senior Member
yes, you are but...


did anybody notify the bank of your father's death? Did you give notice to anybody that the mortgage payments could no longer be taken from the account?

Did you ask the bank why they were taking payments from an account no longer owned by the decedent?
 

ShiftF4

Junior Member
yes, you are but...


did anybody notify the bank of your father's death? Did you give notice to anybody that the mortgage payments could no longer be taken from the account?

no I don't think anyone has, i didn't know about it. His sister is petitioning to represent his estate(no will) and is trying to take control over everything so I'm guessing she was supposed to but failed to do so. If I took the money, would that effect the mortgage?
 

justalayman

Senior Member
You need to contact the bank asap and inform them of your father's death.

yes it will affect the mortgage as the payments would have to be made from assets of the estate, which no longer include the bank account you received under the POD.
 

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