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When a certificate of deposit is stamped non negotiable and…

Customer Question
Hi, when a certificate...

Hi, when a certificate of deposit is stamped non negotiable and the person who opened the CD is listed as Trustee and listed 2 beneficiaries , can a power of attorney remove the 2 beneficiaries and add herself as joint with survivorship?

Lawyer's Assistant: Can you tell me what state this is in? And just to clarify, what paperwork has been filed?

Ct.The trustee was on his death bed and was not able to physically go into the bank to make the changes, In Probate court the power of attorney at that time of change reveals a USB Consumer Deposit Account Signature Card.. also at this time she was an employer at this bank

Lawyer's Assistant: What documents or supporting evidence do you have?

Years of the Certificate of Deposit papers( Original papers) Original bank statements . A copy of the signature card. Which has 2 different dates on it, one says account date/update Date 06 06/2016 and next to signature same date , then a stamp from the bank saying Completed 06/ 29/2016

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I think that's it for right now, I'm sure I'll think of other questions , lol thank you for your time.

Submitted: 3 months ago.Category: Estate Law
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Answered in 1 minute by:
1/9/2018
Estate Lawyer: Legal Eagle, Lawyer replied 3 months ago
Legal Eagle
Legal Eagle, Lawyer
Category: Estate Law
Satisfied Customers: 10,222
Experience: Licensed to practice before state and federal court
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Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. Because I want to provide you with the most accurate answer possible, do you mind if I take a moment to review your question?

Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

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Estate Lawyer: Legal Eagle, Lawyer replied 3 months ago

Thanks for your patience while I reviewed your situation. A POA has the authority to make the decisions that the ward gives them. In your case, if the person was granted the authority to remove the beneficiaries and become a joint owner of the CD, then they would have the right to do so.

If the person had no right to do such a thing, then they would be in violation of the POA and likely may be charged with fraud. The CD would revert back to the original beneficiaries if that were the case.

How else can I help you today with this?

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Legal Eagle
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