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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Family Law
Satisfied Customers: 41220
Experience:  I provide family and divorce law advice to my clients in my firm.
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Estate question

Customer Question

estate question
Submitted: 1 year ago.
Category: Family Law
Expert:  Dimitry K., Esq. replied 1 year ago.
Thank you for your post. Please permit me to assist you.
What specifically is your question, how can I assist you?
Customer: replied 1 year ago.

My mom passed away in january and left 4 accounts that were pod for my brother and I. Two have been distributed already leaving two more.

My brother is not coping well so I am trying to take one at a time and he is not meaning to be a problem but he is dragging his feet. I am the executor and trying to pay my moms bills, run her household, her rental property and I had to buy a new home so I can sell hers.

Do I have any recourse with td ameritrade who will not release my share of pod funds until my brother sends in his letter of instruction?

Expert:  Dimitry K., Esq. replied 1 year ago.
Thank you for your follow-up, Elizabeth, and your explanation.
I understand your situation quite well and sympathize with the fact that your options are limited. However you have no recourse against TD Ameritrade here at all--their argument, and a justified argument at that, is that they have a fiduciary duty to ensure that the funds are being removed based on knowledge and understanding of all interested parties. If such notice is not given, they do not have to act on it purely because if later on your brother alleged that you moved this money without his permission or knowledge, the bank would be seen as potentially complicit in this alleged fraud and may be liable for the funds themselves to your brother. Hence, they are looking out for the interests of your brother, and frankly their own, but they are acting exactly within the law on this. Your only recourse is to compel your brother to get this done quicker.
Sincerely,
Dimitry, Esq.