Friend had 2 accounts at local bank. ONe was hers personally from life ins proceeds from late husband's death.

Hello there --

-

Was the POA / POD holder also a joint account holder with this woman or was the account held by the woman individually? A POA and/or a POD does not mean that this appointed person was an account holder with full rights to the proceeds of the account -- the designation simply means that the POD holder was to access the account at the direction of and/or for the benefit of the account holder but it does not give the POD holder the absolute right to the balance in the accounts upon the death of this woman, the account holder). However, if the POD holder was also a full joint account holder on the accounts with the woman then the POD holder does have the right to claim ownership of the account balances upon death of the other account holder (this woman who died).

-

Regarding the Cashier's checks -- they are not generally considered stale and uncashable until 6 to 9 months after they were issued - so I suspect that they are still valid. At the time of her death, she had removed the money from the accounts and thus the money that is represented by these cashier's checks becomes part of the woman's overall estate and the people who are her immediate heirs (her son and any other children) are entitled to the distribution of any assets or property that was held in her name at the time of her death -- including the proceeds from the cashier's checks. The only time that this might be in question is if the checks had become old and stale and in that case, the joint account holder with the woman could try to make an argument that the money was never actually withdrawn from the account in the first place and thus should be credited back to the account. However, even if the checks were old and stale there is no set legal statute that would direct the bank or the probate court regarding what to do with these funds and it would end up being a decision for the probate court judge to make regarding who becomes the beneficiary of these funds (either the heirs of the deceased woman (the son and any other children) OR the joint account holder with the woman (if there was a joint account holder. If no joint account holder then the money would become part of the estate to be distributed to her immediate heirs such as her son and so it is a moot point regarding redepositing the checks into the account). A person holding a POA or POD in such a situation who was not also a joint account holder would not have rights to these monies.

-

Please let me know if you have futher questions on this matter. If not, can you please press a positive rating underneath this ANSWER box so I will be paid for my time. I am paid nothing unless you press the 3rd, 4th or 5th smile face underneath this ANSWER box. Doing so will not cost you any additional money -- it simply acts as the trigger to Just Answer to pay me for my time. THANK YOU VERY MUCH

-

MARY

-