Need Geek Help/ Getting Dad's $$$ to My Mom's Bank

[Know Doubt 0]

Okay my Dad's in ICU and could 'go' at any minute.

I can't get him to the bank to take the $$$ out.

My Mom has Dimentia pretty bad with severe short term memory loss and might not recall 'why' we are at Dad's Bank and 'why' we are taking so much out(around $40k to put in her account).

 

My Mom IS on the account listed at the second initial on first line:

 

B & T Smith Jr.

Smith FAM REV. TRST 123456

phone #

street addy

 

 

The above account number isn't the same as the one on the bottom of the check routing number(remember those?).

 

Neither have internet banking or have ever used their ATM cards.

 

 

So here's my questions as I've recently heard that banks 'freeze' an account if someone dies and then it's a huge hassle to get the $$$ out for their Spouse/Family.

 

If my Dad is still alive Monday...

 

 

Can my Mom just write herself a check and cash it into her bank acct.? How long till it clears?

Should she write it for $5k, or $9k and do it how ever many times to get to 40k???

 

Should we go into my Dad's bank and get 40k cash out, drive 5 miles and put it in my Mom's bank?

 

Should we just go to my Mom's bank and have them do an electronic transaction to my Mom's Bank? How long till that would clear?

 

 

 

Also if say my Dad dies while I'm typing what is our course of action?

 

 

 

 

 

I have to go visit him a bit but will answer any questions ASAP.

[Eagles Green 34]

It's pretty cool that you're spending the last moments you could have with him making sure it's easier to get access to his cash. Maybe you could sell all of his clothes today too.

 

[WhiteWonder 2,199]

yes if your father dies, it becomes a decedent matter. It's won't be a huge hassle but your mom will end up having to produce a death cert to have the account closed out etc etc.... it's not a big deal but be prepared to be with her every step of the way if she has dimentia. Since the account is already joint in her name and your fathers it is much less of a hassle than retrieving money from any individual account your father might have.

 

you could set up online banking for her and your dad and electronically transfer the funds to your moms account at her bank. you just need her routing and account numbers.

 

or like you said, she can write herself a check from dads account (provided she is actually joint on it) and deposit it in her solo account. She will have to be there to do the transaction unless you have power of attorney which is always a good thing for children to have on their parents account once they hit a certain age.

 

the only real issue is id Dad passes away before you do something. The account will be flagged for the decedent matter

 

but again, its really no big deal to have that issue resolved. It becomes a pain in the arse if dad has money being directly deposited into that account or if he still gets checks sent in his name. In these cases, mom needs to set up an estate account in order to have somewhere to deposit these checks as they won't be able to be cashed or deposited into her solo account in the future.

[Drizzay 648]

Who's listed as a survivor trustee? I see the account is in a trust. Is it just your mom, or are you (and siblings) listed as survivor trustees?

[Know Doubt 0]

Who's listed as a survivor trustee? I see the account is in a trust. Is it just your mom, or are you (and siblings) listed as survivor trustees?

 

I assume it's my Mom.

Two weeks ago my Dad couldn't get $$$ out because his DL expired while he was in the hospital for 4-5 months and he told me that my Mom might have to come get the $$$ so I'm probably blowing this out of poportion.

We went back the next day with his Passport and got what he wanted done.

 

Thx D.

 

 

Thx WW.

[shotsup 832]

Moms can size ?

[SUXBNME 1,348]

Moms can size ?

She can't remember

[Chronic Husker 85]

After you get the $40k, I'll take a couple days off and go to Vegas with you.