QUESTION
Can a bank close cds for lack of contact
Asked on Apr 22nd, 2013 on Wills and Probate - Florida
More details to this question:
My step-mother left a will showing 4 certificates of deposit for me in joint survivorship. She passed away and the banks says they were cashed out, but won;t say by whom I didn't and I don't think she did either. Can they close them for lack of contact
1 ANSWER
4 Awards
If a payable on death beneficiary is designated, the CDs should have passed to the designated beneficiary regardless of what the Will says. If you owned the CDs jointly with your Step-Mother, meaning your name was also on the CDs, you should have the paperwork from the bank reviewed by an attorney.
Answered on May 15th, 2013 at 3:24 PM