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Beneficiary Account Funds Used

My grandfather had a CD beneficiary account for me when he was alive. He died when I was a minor. I am now twenty-three years old; when I went into the bank to ask about the account, the teller told me that there was nothing in it. I talked to my grandmother about it, and she said that she used this money for my brother. Do I have any recourse?

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It's hard to give you a good answer to this question because we don't know dates, amounts, and the law of the state that would apply. If enough time has passed since your grandmother used the funds, it's doubtful there is any sort of legal recourse.

Published on BankingQuestions.com 12/11/07