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Home >> Special Situations >> Deceased Individuals
Executor of Will Unwilling to Accept Verbal Promise
My grandmother passed. It was well known by all that she helped support my small daughters and I. She told me that there were a few accounts for the girls ($2,500 each) and at least $10,000 for me in a CD for me as beneficiary, aside from a family trust. My aunt informed me of this when she tried to cash my CD, shortly after Nana's death. When I went in, they gave me the runaround and said I needed legal documentation from a lawyer that would verify my beneficiary status. Since I'm not the executor of the trust, they gave me more lame excuses that a single mother of twins doesn't have the attention to comprehend. After months of being avoided, I found out that they put my CD and kids' savings into a trust, which my aunt, as executor of trust, cashed, and is not planning to give to us! How could the bank do this? How can I get my kids' savings back?
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 Your grandmother told you something about some accounts and a family trust. It's possible that she moved the accounts into the trust before she died. You said that "they put [your] CD and kids' savings into a trust," but did not relate the circumstances under which the accounts were put into the trust. If it was your grandmother's doing, the bank was not involved in the decision and has nothing for which to account.
You also used the phrase "executor of the trust," which is a bit confusing. The person who manages a trust is a trustee, not an executor. An executor manages the winding down and distribution of a deceased individual's estate, generally under the auspices of a probate court.
Unfortunately, there seems to be a lot more information that is unknown about what you're describing than what is known. There is not enough information to provide you any guidance on what to do next, except to talk to a lawyer if you believe you've been denied what is rightfully yours. One place to contact is your county's or city's legal aid office.
Published on BankingQuestions.com 1/16/09
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