• Statute of limitation for ss beneficiary checking account

My father died around 8-9 years ago. He has a small ss beneficiary account that, I as Power of Attorney, handled. He died before using all the money in this account which is in my name as well as his. My father didn't have much money so my brother, sister, and I decided not to probate his will He had virtually nothing. (lawyer would cost more than all my father's money). SS told me they didn't care what I did with the money now that he was dead. I went to the bank and they said they couldn't give me any money out of the account because my dead father is the beneficiary; yet the bank takes money out every month to maintain the account My question: is there a statue of limitations for this beneficiary account? The amount is @ $850. How do I handle this in order to get the money. Thanks, Janet
Asked 5 years ago in Property Law
Religion: Christian

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7 Answers

The account is in your father's name.

In the event of the death of a SSD benefit beneficiary after the approval of their benefits, his or her spouse or dependent children may be entitled to a one-time Social Security death benefit in a lump sum. This type of benefit is usually only a small sum of $255.

This payment may be in addition to any monthly survivor’s benefits to which the dependent family members are entitled. Eligible family members for these types of benefits include spouses, dependent children, and even some ex-spouses.

After the death of a recipient of Social Security Disability Insurance (SSDI) benefits, which are based on the disabled worker’s employment history and how much they had contributed in payroll taxes, certain family members may be eligible to receive survivor’s benefits.

The money will go to certain beneficiaries in a certain order. First, the surviving spouse, who had been living in the same household as the deceased person and had met certain requirements that made them eligible to receive benefits of the same earning record of the deceased during the month of their death, is eligible to receive their SSDI survivor benefits.

If there is no surviving spouse, then the children of the deceased person will receive the survivor’s benefits in equal portions if they met certain requirements that made them eligible to receive benefits of the same earning record of the deceased during the month of their death – usually due to their young age and status as a dependent.

If the worker had no children either, then the survivor’s benefits may be dispersed in the following order:

To the parents, who were eligible for the worker’s SSD benefits during the month of the death through meeting certain requirements. If none,

A surviving spouse who had not been living with the worker or had met the requirements for SSD benefits during the month of the death. If none,

Adult children. If none,

Parents who had not met the requirements for SSD benefits during the month of the death. If none,

The legal representative of the worker’s estate.

Regards

Rahul Mishra
Advocate, Lucknow
14088 Answers
65 Consultations

5.0 on 5.0

account must have been frozen on your father demise

2) since there is not substantial sum of money lying in account bank can make payment to the legal heirs on furnishing indemnity bond to indemnify bank in case claims are made

3) obtain NOC of other legal heirs to collect money lying in the account

Ajay Sethi
Advocate, Mumbai
94712 Answers
7530 Consultations

5.0 on 5.0

Sir on death of father SS can be dissolved and you can further claim the amount in the bank on account of dissolution of SS the assets shall be divided. As legal heir you can claim same by taking NoC from other legal heirs.

File an application to close same.

Shubham Jhajharia
Advocate, Ahmedabad
25514 Answers
179 Consultations

5.0 on 5.0

Hello,

The bank will not release the amount until and unless you get he will probated.

You may give a letter to this effect and ask the bank to freeze the account.

Also, ask the bank if they will release the amount in case the NOC is given by all the legal heirs.

Regards

Anilesh Tewari
Advocate, New Delhi
18078 Answers
377 Consultations

5.0 on 5.0

Check what is the mandate given to the bank for account operation

If its 'either or survivor' then upon demise of your father the bank has to transfer or release the money to surviving account holder

Yusuf Rampurawala
Advocate, Mumbai
7510 Answers
79 Consultations

5.0 on 5.0

Dear Client,

Is there any nominee to the bank account than bank is bound to hand over the cash in his/her hand and than distribution between legal heirs according to inheritence law.

And if there's a WILL than the executor or beneficieries can operate the account.

In India , probate is not compulsory but optional. Check your country law, may be no need of probate and on the basis of testamentory succession (WILL), GET THE MONEY RELEASED.

Yogendra Singh Rajawat
Advocate, Jaipur
22633 Answers
31 Consultations

4.4 on 5.0

You have to produce the death certificate of your father in the bank along with the share holding certificates of your siblings who are the shareholder in the proceeds of closure of this account as you mentioned the amount is very less and it will be we are difficult to get all these documents ready to submit in the bank you need to speak to the bank if they do agree you can provide no objection certificate from your siblings that they had no objection if the entire amount should be paid to you Bank may except the declaration affidavit by your siblings and pay the amount to you the legal process is very Hindi and difficult and it is not worth taking

Vimlesh Prasad Mishra
Advocate, Lucknow
6852 Answers
23 Consultations

4.9 on 5.0

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