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Dwayne B.
Dwayne B., Attorney
Category: Estate Law
Satisfied Customers: 33374
Experience:  Estate Law Expert
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Account was closed apon death of a friend he had set up an

Customer Question

account was closed apon death of a friend he had set up an account for me to receive apon his death and the power of attorney/executore closed the account the day after his death.
Submitted: 2 years ago.
Category: Estate Law
Expert:  Dwayne B. replied 2 years ago.
Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts.
Have you seen the paperwork at the bank to know whether you were designated a beneficiary of the account, a joint tenant with right of survivorship, etc.?
Customer: replied 2 years ago.
the account was made out as John Bojer POD & POA
Expert:  Dwayne B. replied 2 years ago.
Who is John Bojer? And are you sure that is exactly how the bank had it because the POA in that doesn't make any sense?
Customer: replied 2 years ago.
John Boyer was my friend that set up the account with me, I was the beneficiary to be POD, and the POA went in the day after his death and closed the account
Expert:  Dwayne B. replied 2 years ago.
But what I am asking about is not the intent of the deceased, but the exact language on how the account is "named" at the bank.
Regardless, the bank shouldn't have let the POA close the account since the POA ceases to be effective IMMEDIATELY on death but the wording of the account will make a difference on how to proceed.