QUESTION
Bank won't release funds after sister's death
Asked on Oct 18th, 2014 on Trusts and Estates - California
More details to this question:
My sister passed. She had a living trust and a will that lists me as the beneficiary but she had an individual savings account with under $2,000 in it but supposedly no beneficiary paperwork with the bank. They will not release her funds to me. what do I need to do? The trust says all of her assets are to be considered a part of her trust.
1 ANSWER
Taxation Attorney serving Santa Monica, CA
at
Lyster, Inc.
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You need an affidavit (or declaration) for collection of personal property of deceased not exceeding $150,000 in value. The bank probably has a form, but if not it is readily available online. See, for example, http://www.saclaw.org/Uploads/files/step-by-step/AffidavitCollectionPropertyGuide.pdf.
Answered on Oct 19th, 2014 at 12:29 PM