Answered by Mark Balian at njmoneyhelp.com
Q. A bank is refusing to release 50% of the funds, held in cash and CD’s, in a bank account my wife inherited from her brother. She is the 100% POD beneficiary. The bank said my wife does not meet the criteria for “blanket waiver,” which would have allowed 50% of the money to be moved now. She is only the 100% beneficiary, not the executor or administrator or anything else with regard to her brother’s estate or bank account. Do you happen to know if she is entitled to the 50% and if so how can she prove it to the bank representative so she can get the 50% distribution. She is working to get the New Jersey tax waiver.
— Frustrated
