CanI cash a CD that has my brother’s name on it without him, ifI have POA?
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CanI cash a CD that has my brother’s name on it without him, ifI have POA?
I have POA on all my mother’s property and now reside with her. Both mine and my brother’s names are on the CD. The bank won’t release it without his notarized letter. Since mom left me the house, he’s been very angry and we are at war. I agreed to allow him to visit her before she passes but he must be escorted. He stalked the house, waited until I left and entered my home with his wife. I called the cops but there wasn’t enough to file a restraining order. Current funds are exhausted and I need the CD cashed for my mom’s continued care/bills. Whatever is left will be divided equally between us through reps.
Asked on August 8, 2011 Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You only have a power of attorney with respect to your mother's assets and not your brother's. Your and your brother's names are on this certificate of deposit presumably given to you by your mother.
Since you and your brother's names are on this certificate of deposit, you are both joint owners of it. For this certificate to be cashed out, your and your brother's notarized signatures allowing its release must be presented to the bank as a condition for its release. This is a standard requirement of all financial institutions in this country.
You need to reach a "truce" with your brother to have the certificate of deposit released so that the entirety of the funds can be used for the care of your mother.
Good luck.
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