Estate Law

Estate Law Questions? Ask an Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Estate Law

Can a bank refuse to let me withdrawal money from a CD that

Customer Question
I am 50% beneficiary of...
Can a bank refuse to let me withdrawal money from a CD that I am 50% beneficiary of after the primary holder passed, until I get a notarized letter from the other beneficiary, who lives out of state, stating that they agree to have the CD closed and their amount sent to them? Why can't I just get my 50%?
Submitted: 1 year ago.Category: Estate Law
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 5 minutes by:
8/15/2016
Estate Lawyer: J. Warren, Attorney replied 1 year ago
J. Warren
J. Warren, Attorney
Category: Estate Law
Satisfied Customers: 2,250
Experience: Experience in estate planning including wills, trusts and succession planning.
Verified

Hello and welcome! My name is ***** ***** I will be helping you today! It will take me just a few minutes to type a response to your question. Thanks for your patience!

Ask Your Own Estate Law Question
Estate Lawyer: J. Warren, Attorney replied 1 year ago

I certainly can understand your frustration. However, yes the bank would need permission of the other joint tenant for you to withdraw your interest in the CD. This is because it is an undivided 1/2 interest in the CD meaning it can not be physically divided without each owner agreeing to do so. The joint tenancy provides the owners the benefit after the death of one of them of the entire amount being transferred to the survivor. But during the life time of each it can not be divided without both of them agreeing.

All my best and encouragement. Thank you for allowing me to help you with your questions. I realize this was not the answer you were hoping to receive however I have done my best to provide information which truthfully addresses your question. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty.

Ask Your Own Estate Law Question
Customer reply replied 1 year ago
That's interesting because another bank allowed me to withdraw my amount from a CD without any approval of the other beneficiaries. In this situation my grandmother passed last year and my grandfather just passed. The CD states my aunt and I are the beneficiaries. Why can one bank allow the withdrawal and another not allow it?
Estate Lawyer: J. Warren, Attorney replied 1 year ago

Banks have different policies which is often the case and it is permitted. Also, the prior CD's could have been held as tenants in common, meaning each had a divided interest. Regardless, the banks so have broad authority to exercise their own internal rules. Even as a lawyer I have had the same issues and the banks change policies often.

I wish I could tell you that there is a way to compel the bank to turn over the CD.

All my best and encouragement. Thank you for allowing me to help you with your questions. I realize this was not the answer you were hoping to receive however I have done my best to provide information which truthfully addresses your question. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty.

Ask Your Own Estate Law Question
Ask J. Warren Your Own Question
J. Warren
J. Warren
J. Warren, Attorney
Category: Estate Law
Satisfied Customers: 2,250
2,250 Satisfied Customers
Experience: Experience in estate planning including wills, trusts and succession planning.

J. Warren is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,488 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

5,126 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,032 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,841 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

1,454 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Attorney

1,167 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Estate Law Questions
I have a few questions. me and my partner have a child but
i have a few questions. me and my partner have a child but are not married. my partner is travelling to jamaica tomorrow where there is a state of emergency in certain areas. … read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,266 satisfied customers
Does the distribution of an irrevocable trust (not created
Does the distribution of an irrevocable trust (not created by a will) result in a K1 with taxable implications?… read more
LegalGems
LegalGems
Juris Doctorate
10,728 satisfied customers
My father passed away in Arizona. He had a living trust
My father passed away in Arizona. He had a living trust covering the majority of his assets. However, he did not have his home in the trust. He had recently moved and forgotten to add it. The home is … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
My mother and step dad owned a cabin up north in michigan.
My mother and step dad owned a cabin up north in michigan. Before my step dad passed away he forced my mother to sign a quit claim deed and add his step son and step daughter as owners. The owners wou… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
My Tenant's refrigerator just went out. I have a appliance
My Tenant's refrigerator just went out. I have a appliance repairman coming in the morning. Am I responsible for damaged food while we wait for the repair (or replacement) ?… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
My husband and I recently divorced. Him and his attorneys
My husband and I recently divorced. Him and his attorneys are the trustees on my irrevocable trust. My question is how do I remove them both?… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers
My mother passed away. I am the executor of her will.
My mother passed away. I am the executor of her will. However she has no property. She only has investments with ***** *****, with whom she left instructions on how to distrubute ; as well as 3 small … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
My children need to secure a 350K probate surety bond, but
My children need to secure a 350K probate surety bond, but need a cosigner. My wife and I have 7K equity (253K note balance) in our house, a 30K IRA, 15K FMV vehicles, 7K cash, for a total of 59K in N… read more
amir atashi rang
amir atashi rang
Principal
LL.M. (Taxation)
4 satisfied customers
Mother passed away and stepfather took everything and told
Mother passed away and stepfather took everything and told me and my brother we would get it when he passed but now he is remarrying… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
My mother lives alone and her house was put in my name over
My mother lives alone and her house was put in my name over 5 years ago for $1.00. When she no longer lives there, how is the best way to sell this to avoid huge taxes? She lives in Iowa and I live in… read more
LegalGems
LegalGems
Juris Doctorate
10,728 satisfied customers
Assuming, no one divorces. If a Revocable Trust was created
Assuming, no one divorces. If a Revocable Trust was created by the same parties that have an Antenuptial Agreement /Rescind and the Revocable Trust (worded in accordance with the Oklahoma Law and each… read more
LegalGems
LegalGems
Juris Doctorate
10,728 satisfied customers
A Revocable Trust was created by the same parties as have an
A Revocable Trust was created by the same parties as have an Antenuptial Agreement and a Rescind in place. Afterword's, the Revocable Trust (worded in accordance with the Oklahoma Law and each spouse … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
My father passed away in September he owned a home in
My father passed away in September he owned a home in Cleveland OH and I want to make sure the property taxes get paid so it does not get foreclosed on. How can I get the property tax information? … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
If i transfer my home which is currently under the pop. 13
If i transfer my home which is currently under the pop. 13 tax structure, to my daughter, will the tax structure change ? … read more
amir atashi rang
amir atashi rang
Principal
LL.M. (Taxation)
4 satisfied customers
My brother is the executor of my mother's will as well as a
My brother is the executor of my mother's will as well as a beneficiary. My other brother and I are also beneficiaries. My mother's will stated that the estate should be divided into three equal parts… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
My 87 year Mother has lived with my wife and I for two
My 87 year Mother has lived with my wife and I for two years. She likes it there , but she has dementia and it is getting progressively worse. I have her on a waiting list at a very nice Assisted Livi… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
Around 10 years ago my father passed away and I inherited
Hi..around 10 years ago my father passed away and I inherited half of his $150,000 estate. The other half went to a step brother who my dad never had a relationship with. He had no will. I just found … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,488 satisfied customers
My Mother passed away and I was made a co trustee in their
My Mother passed away and I was made a co trustee in their trust. I am the only getting anything. It is the house. Can I leave the house in the trust? … read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x