Quote:
Originally Posted by retiredguy123
I don't think the bank did anything wrong. From the SSA.gov website:
"If a beneficiary dies
If the payment is by direct deposit, notify the financial institution as soon as possible so it can return any payments received after death. Family members may be eligible for Social Security survivors benefits when a person dies."
Also, any payments of any type received for a deceased person, must be cashed by the estate executor or by someone who is designated on the account as "transfer on death", in which case, the bank would require proof of death. It would be illegal for anyone else to remove money from an account of the deceased.
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A bank needs to be notified of a person's passing to properly conform to the legal post death requirements of the account. in case of a revocable trust, the account now becomes irrevocable, etc, and most conform to the legal post death requirements of the type of account. If the account needs to go through probate, I believe the account is frozen until fully probed.
thinking that everyone here followed the proper protocol, which may not be interpreted as fair or proper, but then laws are not always interpreted as fair and proper. They are what they are.