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My Sisters Bank Won't Let her release My Inheritance To Me-Please Help.

edited 30 November -1 at 12:00AM in Deaths, Funerals & Probate
374 replies 57.8K views
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  • PennyForThem_2PennyForThem_2 Forumite
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    Don't set upa joint account - there is no way a bank will not let the other person remove funds. Even if you stipulate needs both signatures.

    Lesson learnt- I pass it on.
  • iammumtooneiammumtoone Forumite
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    amersall wrote: »
    All posters deserve a medal for the response' to this thread :cool:

    I have read this thread (and her other one) and I am pulling my hair out here, there is no reasoning with the OP,she has no concern for her mentally ill sister it is all about "me" and what she wants.

    She may have mental health issues herself but "ranting" over and over about this may mean she has a breakdown herself if she is not careful.

    I don't believe the OP is meaning to upset anyone. It seems they don't have the right support in place for them as unfortunately that support is unavailable.

    It is very unfortunate for all three sisters that this sister (I suspect through no fault of their own) lacks the empathy needed in this situation.
  • iammumtooneiammumtoone Forumite
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    OP can we look it this another way?

    Why do you need the money NOW?

    It is your money nobody is denying that, you will get it eventually but why the need to have it now? What are you going to do with it now that can't wait until the situation is resolved?

    Maybe to look at it like this may help you? I do understand you want what is yours everyone would but unfortunately there will be a delay so how much of a difference will it make to you to have it now or when this situation is resolved?

    You are not in financial need, you have your benefits, you are not about to be thrown out of you house, you can afford food etc. Of course once you get it, it will nice for you to come of benefits and be able to spend your own money but why can't this wait a while due to the unusual circumstances? what will go 'wrong' for you if you wait?
  • edited 5 October 2016 at 1:52PM
    SystemSystem
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    edited 5 October 2016 at 1:52PM
    Yes you will have to wait a bit longer to receive your inheritance, but is that really going to cause any problems? You've been getting by ok without the money until now, a few more months isn't going to change anything. You know your benefits will be affected as soon as you receive the money but in the meantime you are being supported financially, have your housing association home, and aren't going to end up on the streets.

    Yes, that is absolutely true.

    Once I get that money all of my benefits except my DLA will be stopped and I will have to pay all of my rent and CT myself and live off my savings.

    And because my HA rent is so high-£608 a monthI will have to start looking for alternative rented accommodation up North because that will eat up my inheritance quicker if I stay here, which will be more stressful.

    I don't have any problems here or in my HA flat.
    The ones that were there have now been solved as my HA have now done the repairs.
    And did not let me wait to long as I had feared.

    The only reasons for moving are that I will have to pay the £608 a month rent myself which means my inheritance won't last as long,(about 8 to 10 years) I have estimated if I stay here.


    But if I move up North my Inheritance will last longer because rent is only about £375 or £400 a month.
    So I might have my inheritance for another 12-15 years before it runs out and I have to go back on benefits again.

    But either way whether I stay here or move up North-I will still have to pay the rent and live off of my inheritance.


    And as we both know the money mum has left me won't be enough to last me a lifetime.
    So I will eventually have to re apply for and go back on benefits again at some point in the future.
    Whether it be 10 or 15 years time.
    I know that.


    And there is just one thing I have also thought about is that my plan to get private rented accommodation up North is fine-As long as I have my inheritance.

    But the disadvantage is that ift is not secure as we know.
    So if something happens and the landlord sells the property or decides to evict me.
    I would then have to find another flat.
    Which is not a problem while I have my inheritance to do it with.

    But if it happens towards the end of the 10 years when my inheritance has run out and I have to go back on benefits and may no longer be able to afford the deposit for private rented.

    There is the risk that I could become homeless again and I will have to go back to the Council.


    And go though the process of being placed in temporary accommodation and being rehoused as homeless by the Council all over again.

    And that's not very pleasant,as the Council may put me where I don't want.
    As I know from my past experience when I was put in a temporary flat in an area I did not like, before they found me this flat, my HA flat.

    My other reason for moving is that my CMHT don't think I am ill enough to need their services and discharged me 2 years ago.

    They say I don't meet their criteria for a psychiatrist or CMHT keyworker-Even though I was with my CMHT for 10 years before they discharged me in 2014.

    And because my GP surgery closed 6 months ago and there are only about 3 GP practices who will take me on.
    Because the others I have been to say I am not in their catchment area.

    I have still not registered with a GP as I am frightened that I will end up stuck with a horrible GP practice or horrible GP.
    Who will make me wait weeks for an appointment and won't be supportive or help me with my benefits.

    And I am also worried that if I stay here what is going to happen to me in 10 years time when my inheritance runs out and I have to apply for benefits again.

    Because I am worried that if I don't have a CMHT keyworker and only the GP that might go against me.
    Or that the GP won't give me the certificates I will need to get my ESA back again or help me with my benefits.

    Although my EX-CMHT Social worker tells me it is unlikely that would happen and if it did I could change my GP.
    That's the other reason I don't want to stay here.

    But then I could have the same problem if I move up north.
    The health trust there could also say I don't need a CMHT keyworker and I might only have a GP for support there as well.


    And up North I won't have a HA with a secure tenancy, where as here I do.

    So at least when my inheritance does run out I will still have a permanent HA home with a tenancy for life without fear of being made homeless.
    As you will never be thrown out of a HA flat as long as you pay the rent and don't break the tenancy agreement.

    Where as if I go ahead with my plan to move up North to Private rented, when my inheritance runs out, I might not have a home.

    At least if I stay where I am I will have.

    So If those are the only 2 reasons for moving is it really such a good plan?


    If there was no will and I did not inherit, and would have had to stay on benefits, then I probably would not have moved out of my HA flat.
    Because my benefits would not have stopped and I would not have had to pay the £608 rent myself.


    Talking about getting a new solicitor and taking the bank to court is just ridiculous and a massive overreaction.
    This must be an incredibly stressful time for both of your sisters and I think you need to take a step back and realize that you immediately getting your inheritance is not the most important thing right now.

    Obviously if Barclays Bank never let me have my money I could be on benefits for a very long time.
    I hope not.
    Because I don't know how I am gonna live with knowing my mum has left me money and that Barclays Bank has 118 that is my money, but i cannot access it. Because the bank won't let my sister give it to me.
    How am I supposed to live the rest of my life with that?
  • edited 5 October 2016 at 1:45PM
    Yorkshireman99Yorkshireman99 Forumite
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    edited 5 October 2016 at 1:45PM
    Don't set upa joint account - there is no way a bank will not let the other person remove funds. Even if you stipulate needs both signatures.

    Lesson learnt- I pass it on.
    This simply untrue. If an account is set up that requires two signatures, such as an executor's account, then the bank will only honour requests, such as cheques, bearing both signatures. That is exactly the problem in the OP's case. The funds in an executor's account are not owned by the signatories but held in trust by them as part of the estate's assets. Note that this is not a joint account such as many married couples have. The signatories can be changed but if one is mentally incapacitated, or dies, the bank, quite rightly, has to ensure that the change is legally authorised. Exactly how that can be done depends on the particular circumstances. In the first instance the executor who still has capacity should approach the bank to establish exactly what course needs to be followed. This may require the court to decide to remove the incapacitated executor and to appoint a replacement. If they are not satisfied with the other executor's actions they might well remove both executors and appoint a solicitor to administer the entire estate. That will mean the estate has to bear all the costs.
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  • SystemSystem
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    Brighty wrote: »
    Get sister A to write and sign a cheque then take it to the hospital and get sister B to sign it, then post it to you. Can't be that hard can it?

    Brighty

    I asked the manager of my local branch of Barclays Bank yesterday that and she said no.
    If it is an executors account then their policy is that all executors and to be at the bank to sign.
    And it's the same thing if it's a joint account.
    Because of the large amount of money 118k.
    My sister was also told the same thing by Barclays.

    If my other sister gets well enough to go to the bank with my sister to sign in a few weeks time. Then there is no problem. I will get my money.


    If not then my my sister will have to get a solicitor to apply for a power of attorney.
    Which could take months or maybe years as Barclays told me it involves my sister going to court.
    And I am not sure if my sister will want to do that.

    If she doesn't then what?
    I am screwed because it means I won't get my money and will have to fight for it.
    Because the bank won't let my sister give it to me.

    Oh my God.
  • fairy_lightsfairy_lights Forumite
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    annbarbs wrote: »
    If she doesn't then what?
    I am screwed because it means I won't get my money and will have to fight for it.
    Because the bank won't let my sister give it to me.

    Oh my God.
    It's not that the bank 'won't let' your sister give you the money, it's that they have to follow the correct procedure for her to do so.
    You won't have to fight for your money, you will get it as soon as it can legally be transferred to you, and in the meantime there is no point in getting stressed or upset about it.
    Maybe use the wait to research where you will move once you receive your inheritance, and perhaps use it as opportunity to reach out to your sisters?
  • iammumtooneiammumtoone Forumite
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    annbarbs wrote: »

    If my other sister gets well enough to go to the bank with my sister to sign in a few weeks time. Then there is no problem. I will get my money.

    Hopefully this will happen but I would give it a few months rather than weeks.

    annbarbs wrote: »
    If not then my my sister will have to get a solicitor to apply for a power of attorney.
    Which could take months or maybe years as Barclays told me it involves my sister going to court.
    And I am not sure if my sister will want to do that.

    She may not want to do it, but if the time comes and it is necessary she will do it, remember that she can't get her money either she certainly wont give up her share just because she doesn't want to go to court. She will also take advise from the doctors/hospital your sister is under regarding this. It would be rare for it to come to this, at this stage be hopeful your sister will recover.
    annbarbs wrote: »
    If she doesn't then what?
    I am screwed because it means I won't get my money and will have to fight for it.
    Because the bank won't let my sister give it to me.

    As said she will she will be wanting her money as well, but she can't yet as she has to wait and give your sister time to recover before she even considers court.
    annbarbs wrote: »
    Oh my God.

    Please try not to worry you WILL get your money it will just take a bit longer due to the circumstances.
  • SystemSystem
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    Hopefully this will happen but I would give it a few months rather than weeks.




    She may not want to do it, but if the time comes and it is necessary she will do it, remember that she can't get her money either she certainly wont give up her share just because she doesn't want to go to court. She will also take advise from the doctors/hospital your sister is under regarding this. It would be rare for it to come to this, at this stage be hopeful your sister will recover.



    As said she will she will be wanting her money as well, but she can't yet as she has to wait and give your sister time to recover before she even considers court.

    My sisters have already got their money my sister said. Because they have accounts with Barclays Bank but I do not.
    I am with Nationwide.
    So it was paid out to my sisters first, then my sister was going to pay my share to me but Barclays Bank would not let her.

    Because the other sister cannot be there to do the transaction.

    So my sisters have got their money but I haven't.
  • iammumtooneiammumtoone Forumite
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    annbarbs wrote: »
    My sisters have already got their money my sister said. Because they have accounts with Barclays Bank but I do not.
    I am with Nationwide.
    So it was paid out to my sisters first, then my sister was going to pay my share to me but Barclays Bank would not let her.

    Because the other sister cannot be there to do the transaction.

    So my sisters have got their money but I haven't.

    I can understand more now why you are upset.

    Did your sisters have your bank details? or was the delay they had to wait for you to give them and unfortunately in that time frame it was when your sister fell ill.

    Or it is because they bank with Barclays that only the one signature was needed? If that is the case would it help if you set up an account with Barclays?

    Are you sure they have their money, has anyone told you this? I don't understand when they divided the inheritance they didn't do it all at once (unless they didn't have your details of where you would like it sent).
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