Her father left his two children money, but the bank that had it wouldn’t release it and refused to tell them why. Legal or not? Tonight’s Help Me Howard with Patrick Fraser.
If you are a parent, Christine says what you hope your children say about you one day.
Christine Elliott: “Just a wonderful, wonderful man, and I still really miss him.”
Her father, Charles, was also a successful businessman and a fun one. As the CFO of Kellogg’s, the cereal company, he had a guest show up at Christine’s wedding.
Christine Elliott: “So I think I’m one of the only people in the world, if not the only, that had Tony the Tiger at their wedding and I danced with him, and he was in a tuxedo.”
Sadly, in 2022, Charles passed away, but he made sure all his financial affairs were in order.
Christine Elliott: “This is his original will. It is also the trust agreement, and it’s all laid out with tabs. So it’s very easy.”
Everything was in his trust, except a checking account.
Christine Elliott: “I don’t know why. I’m sure it was just an oversight on my dad’s part.”
The account with $56,000 needed to be put into the trust to be given to Christine and her brother. As the financial representative, Christine tried to do that.
Christine Elliott: “I have a signed court order that specifically talks about the account number and the balance on it and it is payable to the Charles Elliott trust.”
Christine then took the documents to Chase Bank.
Christine Elliott: “So I provided what they said I needed, and then he called back and said, it’s not enough. I said, ‘Well, what do I need?’ And he said, ‘I can’t tell you.'”
Christine reminded the bank that a Broward judge had signed this court order for Chase to put the $56,000 into the trust. The bank responded with a letter.
Christine Elliott: “This is the letter I got. ‘There are no funds to be paid out to you’.”
Christine asked why.
Christine Elliott: “And they will not tell me why. I just don’t understand. I said, ‘Well, what do I need to do?’ And he said, I can’t give you that information.'”
By now, you may be frustrated; imagine how Christine feels after trying to get the $56,000 her father left for his family.
Christine Elliott: “If you get all the right documentation, according to the court, and then you take it to the bank and they won’t give it to you. What do you do next?”
Well Howard, does a bank have to tell you why they won’t release the funds your father left for you?
Howard Finkelstein, 7News Legal Expert: “No, they don’t have to tell you, but they do have to tell a judge. In this case, a judge signed an order to transfer the funds to the trust. Now the bank has to explain why they won’t do it. If the judge doesn’t like that explanation, they can fine the bank and force them to release that cash.”
We contacted Chase. They sent the standard, “We are not able to share information about a customer’s accounts or transactions”. But the key, they wrote, is they will forward this for review by our executive office.
Then what Christine had fought a year for. The check arrived. Including interest, it was around $58,597.
Christine Elliott: “Of course, grateful. Relieved. Am I happy I called Help me Howard? Oh My gosh. I am. My brother and I thank you from the bottom of our hearts.”
Thank you. But more importantly for me, Christine, what would your dad think of your refusal to give up?
Christine Elliott: “I think he would be proud of me.”
And he should be Christine because you did not give up.
Now if you don’t think you need a trust, at least get a will because without one, it’s a mess if you pass away, and your property could go to people you don’t want to have it.
Inherited a problem you have no interest in? Not sure who to bank on to help? Deposit it with us, because you can trust us to do our best.
With this Help me Howard, I’m Patrick Fraser, 7News.
CONTACT HELP ME HOWARD:
Email: helpmehoward@wsvn.com
Reporter: Patrick Fraser at pfraser@wsvn.com
Miami-Dade: 305-953-WSVN
Broward: 954-761-WSVN
Copyright 2024 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.