Getting Access to Bank Accounts and Insurance Benefits
Some of the decedent's most important assets will not be part of the estate, but will pass automatically to beneficiaries under the terms of an insurance policy, pension or bank account. It is not always simple to get access to these assets, however, and a lawyer's advice can be useful for helping you resolve any issues about your rights.
If you are the beneficiary of a life insurance policy or a bank account signatory with survivorship rights, and you are having trouble getting immediate access to the benefits or the balance, contact the law firm of Barry Seidel & Associates, Attorneys at Law. I also advise personal representatives, executors, administrators and next of kin who need to know who's entitled to a particular asset that won't be going through probate or intestate administration.
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Bank accounts can be especially confusing, particularly in cases where an elderly or vulnerable adult had a convenience account set up to let a trusted relative write checks and make withdrawals on behalf of the account's owner. Under these circumstances, the relative previously granted access has no right to claim the balance remaining at the depositor's death. The personal representative will also look at the previous bank statements to make sure that all checks and withdrawals were made for proper purposes.
Jointly owned bank accounts present special issues, and the survivor's right to the remaining balances will need to be supported by proper documentation. I can help clear up any confusion as to the status of a bank account as jointly owned, convenience or "pay on death."
My Office Can Also Help With Insurance Issues
One of the main reasons people buy life insurance is to help their survivors get access to money without going through probate. Nevertheless, people often run into issues and obstacles with life insurance. Does the company have a reason to delay or deny payment? Are there conflicting claims to the benefits? Are there conversion issues that affect your right to payment? Should the proceeds go into trust?
My experience with life insurance at the time the insured passes away can help you cut through the red tape that could otherwise unnecessarily delay payments. I advise beneficiaries, trustees and next of kin from out of state about their rights under insurance policies, and I can help you present your claim in a way that leaves little room for error or excuses.
I also help people get the benefits they're entitled to under union or corporate pensions, Social Security, or any other benefits program with survivorship rights. For additional information in New York City, Long Island or Westchester, contact Barry Seidel & Associates, Attorneys at Law, in Forest Hills, Queens.
