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Infolawyer, Attorney
Category: Estate Law
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Experience:  Licensed attorney helping individuals and businesses.
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Is a Bank liable for damages if it allows all accounts to be

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Is a Bank liable for damages if it allows all accounts to be removed by the administrator if the estate has not yet been probated? If so for how much?
Hello and thank you for the question. I am sorry to read of this dilemma. The bank could be held liable for the amount in the accounts. Practically, a court would look first to see if the funds can be returned by seeking to compel the adminstrator to account for them and freeze and undo such transfers. But funds cannot be recovered, and the estate/beneficiaries are at a loss due to a premature and improper release, the bank is liable for the balance in the accounts plus costs.
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