Grandmother works her entire life and saves up, money goes missing from bank

alienreality
There are quite a few reports and massive complaints about this bank.

Sorry to hear about this.. This bank needs to suffer some real wrath for all of it.

Regions bank employee caught stealling

Four years ago, I was in another (non-home) city and picked up a Regions check from a company I was doing business with. Instead of taking the check home and playing the bankers waiting game, I took the check by the Regions Bank in the city I was visiting.

Since I did not have an account with Regions Bank, they charged me $20 to cash the check written by their local depositor. Fubar. Beyond bizzare.

One more reason for people to start hoarding cash in their mattresses like they used to. Many people throughout history have done this because it is a well known fact that banks can't be trusted.

If there was indeed a very large sum of money, I wouldn't just call the police. I'd call the Feds, the FBI.

Hopefully you get to the bottom of the situation and are able to recoup her money and settle things without a lengthy dispute or trial.

Good Luck!

reply to post by XxNightAngelusxX

You're not really giving us any information.

If the money was held in a bank account, it doesnt simply vanish, theres an easily provable audit trail (a recent statement would do).

Even in the midst of the Corzines and governments confiscating retirement accounts, people still know what happens to the money.

In all likelihood, the money has been legally transferred per her final instructions.

Did the grandmother have any outstanding debts, maybe theres been a judgment against the estate?

Maybe your fiance simply isnt getting a cut?

There are a hundred different legitimate explanations...

reply to post by XxNightAngelusxX


If she didn't have a legal will, all of her property goes to the state.


She needs a legal will, or it is assumed she forfeits her property to the bank, city, and state. Sorry, you are going through this but it's quite literally a grey area, or a loop hole if you rather that #s many families over.

Again, this may or may not be the case where you are but I have heard of it, and if it's the case there isn't too much you can do.

reply to post by Hijinx


Without a will it is a family squabble, but the assumption is the family would gain. There is no assumption anyone is donating to the state as they know that people don't like giving money or paying out to any dracos', they want to be free and have them all in jail for their crimes against humanity.

That is not a law. And it would never pass, no one allow it to.

The police need to be called.

Hijinx
reply to post by XxNightAngelusxX

 

If she didn't have a legal will, all of her property goes to the state.


She needs a legal will, or it is assumed she forfeits her property to the bank, city, and state. Sorry, you are going through this but it's quite literally a grey area, or a loop hole if you rather that #s many families over.

Again, this may or may not be the case where you are but I have heard of it, and if it's the case there isn't too much you can do.

Without a will the court decides how it is divided, however it all goes to the family minus taxes.

Hijinx
If she didn't have a legal will, all of her property goes to the state.

This is not correct. If you die intestate, that is without a will, the state in which you reside has recourse, for lack of a better expression, to make a will for you and determine how to best divide your estate among your heirs.

The laws direct the state to disburse the estate in "a manner that closely represents how the average person would have designed his or her estate plan, had that person had a will". There is a protocol in regards disbursement to the proper heirs that takes precedent even if the family claims to have known what the decedent may have intended to do with their estate.

As for the Original Post there is far too little information to make any type of determination of where this persons savings may have gone, as other posters have recommended start with the bank and work with the executor to discover where the funds are now located or to whom they may have been transferred.

I purposely didn't post a lot of details because this isn't exactly my family I'm talking about here, and I'm not sure how much information they'd be okay with giving out. Therefore, I just posted the general gist of the situation.

That said, I had no idea that the state simply takes everything after you die if you don't have a will. I figured the family would get immediate rights, not the government... but I should have known better. The government is God, after all.

I am unsure about her legal will.

She left her house to my fiance, but its currently in his aunts--the grandmother's daughter's--care. The family says that she intended the house be left for the family, and she had other wishes she wanted fulfilled after her death, but as far as the will itself--I'm really unsure if her after death demands were considered "legal" or not. If not, then its obvious the government decided to take all the money.

Pathetic...

reply to post by XxNightAngelusxX


Was your grandmother on Medicaid? Did she use it to pay for her medical expenses?

It may be possible that the US government may have emptied her account in order to reimburse itself for her medical expenses while she was alive.

Over My Dead Body—How Medicaid Takes Its Money Back After You Die

Medicaid, the state-run health insurance program for low-income people, may take its money back from your estate after you die. Known as the Medicaid Estate Recovery Program, Medicaid can recover the money it spent on your healthcare from your estate.

Although the idea of Medicaid taking money that otherwise would have gone to your heirs is distasteful, it becomes more palatable when you look at the reasons behind the MERP program. Since Medicaid is funded by federal and state taxpayers, the goal of MERP is to lower Medicaid costs. If it can recover part or all of the money it spent on your healthcare, it saves taxpayers money.

If Medicaid is paying for your long-term nursing home care, it’s likely thanks to Medicaid that there will be any estate left to recover funds from. Without Medicaid coverage, you may have had to sell your house and other valuables to pay for your care, in effect liquidating your estate while you’re alive to pay for your long-term care.

About.com

Most people don't know about this despicable government practice. I think its only come about recently as a response to the government's fiscal crisis. Its not the deal seniors originally signed up for but, with the government becoming ever more greedy, even the life savings of the dead are no longer safe from government theft.

reply to post by FortAnthem


Jesus...

I guess there are a number of underhanded things that could have happened. Just another example of a regular hard-working person getting ripped off completely by some higher-ups, God knows which ones.

Ugh...

Sorry to hear about this. I hope this information may be of help.

File a Complaint About a National Bank

I hope your friend's family talks to officers of the new bank they are switching to for advice on how to proceed. Definitely get with FBI or police report ASAP.

Hope this gets resolved soon.

XxNightAngelusxX
That said, I had no idea that the state simply takes everything after you die if you don't have a will.

The state does not take anything if you die intestate as I posted earlier, this is not accurate.

I figured the family would get immediate rights, not the government... but I should have known better. The government is God, after all.

The government does not get anything unless the estate is valued over $1,500,000.

I am unsure about her legal will.

She left her house to my fiance, but its currently in his aunts--the grandmother's daughter's--care. The family says that she intended the house be left for the family, and she had other wishes she wanted fulfilled after her death, but as far as the will itself--I'm really unsure if her after death demands were considered "legal" or not. If not, then its obvious the government decided to take all the money.

As I posted earlier, if she has a will then that would dictate who gets what and how much. If she died intestate than the state will make a final disposition of her assets based on a reasonable decision using the most closely related remaining heirs as a starting point. The more closely related would get the larger/largest portions and it would be portioned out with that in mind. If she died intestate and had real-estate than they could force a sale and divide the proceeds accordingly. There may also be an option of mediation if there are heirs currently residing in the premises whereby they would have to reimburse the primary heirs accordingly if they wished to retain the property.

Again, the state gets nothing unless there is an excess value from what I posted above.

When someone dies , the banks get first dibs at getting any money owed from her estate. They might have 'found a way' she owed money.

The banks are dishonest. I've been frauded by them myself. HSBC and RBC

I'm really becoming concerned about keeping my money in banks. I'm at the age where I need to figure this out to protect my children's inheritance. I have three children, the most honest one, my daughter informed me she would hand over her share to her father, who I recently divorced. WTF? I earned my settlement from him and he was a bastard. She feels sorry for him I took from him. I didn't take anything. I didn't even get half his assets, the greedy bastard. She keeps saying I should put her name on my bank account. No way. Not after she said she would give him my money like that. He could, would, con her to withdraw a large amount.

I don't know what to do. Who to trust. I don't trust my other two children.

violet
When someone dies , the banks get first dibs at getting any money owed from her estate.

When someone dies with indebtedness it is up to the executor to liquidate the estates assets to satisfy the debts. If there are not enough asserts to satisfy the debts then it would be best for no one to file as executor and allow the state to parcel out the assets pro rata based on the size of the debts. If there are enough assets to satisfy the debts then the heirs would be entitled to the proceeds as I explained earlier.

As for your personal situation you do not gave to name as executor or leave anything to your children but this should be clearly laid out in your will and testament.

I really think many if you who are confused on this issue to consult an estate planner, it would clear up many of the misconceptions you have regarding estate disbursement.

reply to post by AugustusMasonicus


You're right on all this and I know that by it being how my Father's estate went. I ended up the executor by default as dying intestate in Missouri leaves "first right of refusal", as it amounts to, with the immediate heir.

The only thing I'd add and it's a huge one, is that intestate, at least in Missouri (and state laws vary WIDELY on this), everything is open to creditors for settlement of debt. Trusts or spousal situations can protect homes, for example. Intestate has it all up. It's still a formal and public process though. Open records through the courthouse, if it's been through probate.

Wrabbit2000
You're right on all this and I know that by it being how my Father's estate went. I ended up the executor by default as dying intestate in Missouri leaves "first right of refusal", as it amounts to, with the immediate heir.

Exactly. I had to act as executor to my father's estate. I knew he had accrued some debts in the final year of his life due to health situtations but I had worked with him and his attorney prior to him becoming ill so I knew what the overall value of the estate was prior to submitting the executorship paperwork. If the debts would have been greater I would have walked away as in New Jersey the executor could be legally responsible for any debts not covered by the estate. As it were I satisfied the debts, took my exector's compensation and worked the rest out with my brother to our mutual satisfaction.

reply to post by AugustusMasonicus


Thanks for explaining

XxNightAngelusxX
I purposely didn't post a lot of details because this isn't exactly my family I'm talking about here, and I'm not sure how much information they'd be okay with giving out. Therefore, I just posted the general gist of the situation.

That said, I had no idea that the state simply takes everything after you die if you don't have a will. I figured the family would get immediate rights, not the government... but I should have known better. The government is God, after all.

I am unsure about her legal will.

She left her house to my fiance, but its currently in his aunts--the grandmother's daughter's--care. The family says that she intended the house be left for the family, and she had other wishes she wanted fulfilled after her death, but as far as the will itself--I'm really unsure if her after death demands were considered "legal" or not. If not, then its obvious the government decided to take all the money.

Pathetic...

Your fiancee Is lying and you bought it hook , line , and sinker

You sound quite ignorant of the way the world works ls I am gonna asee how close I am o n this

Your man tells you his grandmother is rich and when she dies he isgetting ahouse and all this money

You think

Hey that sounds nice I will be takncare of and not have to worry about a lot of stuff.

Then grandm dies and all the sudden he starts with the bs like

O the bank took the money and

The house is in my aunts nameand she wont give it to me

Sounds like the scam my brother used to use but he used my aunt

Bottom line is there was probably never anny money and he was never getting the house there qs no evil bank taking gmas money nor washe ever getting her house

It was all a scam to get you to believe that would happen

Like my brother does , he preyed on your greed and ignorance of how the world operates to get you

And it sounds like it worked

My 2 pennies worth

Has an executor been appointed? That's the first person to speak with if that has already happened. If that hasn't happened, that's the first step in unraveling the mystery.
I've been executrix of two estates and am currently assisting with one. I know that probate law varies greatly from state to state so you should NEVER take legal advice from internet forum fools like me. Talk with an attorney in the state where the grandmother died. Make sure to talk with an attorney who has probate experience. I don't know where you are but most attorneys in our area will give you up to 30 minutes of free time in a case of this sort.
In the legal world there is a will---a written document expressing the wishes of the deceased---or there is no will---"Grandma's wishes" as expressed by family don't count as a will and the deceased will be declared as having died intestate as some others have explained. This is usually resolved at the initial probate hearing. Probate court is public, all their records are available in the county seat courthouse. If you need to find out if probate has been commenced, you can look for the records. However, family members surely should know if that process has begun.
In our state if there is a will, all those named in the will are notified of the probate hearing.
If the family members are congenial, the probate process is quick and easy whether there is a will or not. The two estates that I handled in the past were for family members. They were agreeable and the estate was quickly settled after the legal waiting period for legal notices.
If the family has disagreements simmering---it can be drug out until the estate is drained.
I hope this helps you a bit to understand the process. It can be very daunting to face if you have no experience.
If the grandmother's estate has been probated there will an accounting filed with the probate papers showing where the disbursements were made and who made them.
If the grandmother's estate has not been probated, relatives (siblings/children) who stand to benefit should get that process started.
Going to the bank or filing complaints with them will get you nowhere. Don't waste your time there until you check out the legal aspects with an attorney.
Best of luck.