Case: A gentleman who had been granted Durable Power of Attorney by his elderly mother needed to transfer money from her mutual funds account into a checking account of which he and his mother were joint owners. However, before he was able to complete the transfer, his mother died and his power as his mother’s “Attorney in Fact” was no longer valid. The son was not sure what he needed to do to be able to access the account valued at over $125,000.00. His mother did die with a Will.
Results: A Petition for Probate of Will was filed with the appropriate probate court and the hearing held at which time the judge admitted the Will to probate and named the son as Executor, pursuant to the terms of the Will. Within a week or so, the son will receive his Certificate of Appointment which can be provided to the company that manages the mutual funds account. This will then allow him to close the account and take control of the funds.