Help with a situation.
04-16-2008, 06:54 PM
#1
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Help with a situation.
Ok well this is going to be hard to explain but I'll try the best I can.
- My great grandmother adopted me, in the year 2000 she set up a money market account with 25,000 dollars.
-She passed away and i am the POD
-The account has been handed to the state (i forget what the proper name for it is) and now we have to take certain measures to get the account back. They say that after so many years they send out a notice. They have sent the notice to the wrong address so we have never gotten it.
-However the paperwork was only signed by my greatgrandmother and a manager. No one else signed it, there are no official seals on it. (The woman that signed it was good friends with my greatgrandmother and we believe that she may be up to something)
-I went to withdraw it today because in the will it is stated i am not to touch the money until i turn 18. I have just turned 18.
-I am informed there is only $22,678.03 in the account now.
-I am also informed that the account is drawing ONE PERCENT interest. (This sounds odd to me, I would think a money market account with 22k in it would draw more than this)
Does anyone know if the papers have to be signed by a bank president, or have an official seal on them?
Does any of this sound fishy to anyone else?
Any comments at all would be appreciated.
- My great grandmother adopted me, in the year 2000 she set up a money market account with 25,000 dollars.
-She passed away and i am the POD
-The account has been handed to the state (i forget what the proper name for it is) and now we have to take certain measures to get the account back. They say that after so many years they send out a notice. They have sent the notice to the wrong address so we have never gotten it.
-However the paperwork was only signed by my greatgrandmother and a manager. No one else signed it, there are no official seals on it. (The woman that signed it was good friends with my greatgrandmother and we believe that she may be up to something)
-I went to withdraw it today because in the will it is stated i am not to touch the money until i turn 18. I have just turned 18.
-I am informed there is only $22,678.03 in the account now.
-I am also informed that the account is drawing ONE PERCENT interest. (This sounds odd to me, I would think a money market account with 22k in it would draw more than this)
Does anyone know if the papers have to be signed by a bank president, or have an official seal on them?
Does any of this sound fishy to anyone else?
Any comments at all would be appreciated.
04-16-2008, 08:43 PM
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I'd be surprised if anyone is going to be able to give you concrete information that will help you. Obviously you need to contact the state and do your best to get this sorted out.
I suppose it's possible you have managed to lose 2k+ by investing it for 8 years but that is a little odd. Ask them what if any fees have been incurred as the money was taken over by the state. It's a damn shame your grandmother did this for you only to lose $. If it was in a high yield savings account you'd probably have well over 30-35k by now with no risk.
I suppose it's possible you have managed to lose 2k+ by investing it for 8 years but that is a little odd. Ask them what if any fees have been incurred as the money was taken over by the state. It's a damn shame your grandmother did this for you only to lose $. If it was in a high yield savings account you'd probably have well over 30-35k by now with no risk.
04-17-2008, 04:12 AM
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I always though money market savings were safe!
I'm going to day to attempt to get this all sorted out. Have to get a death certificate, name change order, show that my mother is executive of estate, all this mumbo jumbo.
Thanks for the comment Sahtt.
I'm going to day to attempt to get this all sorted out. Have to get a death certificate, name change order, show that my mother is executive of estate, all this mumbo jumbo.
Thanks for the comment Sahtt.
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