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We have had two recent cases where an accountholder on a POD account (parent) has died, and the two sibling beneficiaries aren’t talking. The first sibling comes in with the death certificate and wants to take his/her money. The second sibling does not want the money in his/her name (at this time). In one of the cases the second sibling is going through a nasty divorce and doesn’t want his spouse to know he is getting the money.
Would anyone be willing to share their procedures in handling these cases? Are you closing the original account and putting the 2nd sibling’s share in a new account under their name? If that is the case and the 2nd sibling won’t answer the phone or call you back, what do you rely on for account address information?
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