We have an elderly customer with Alzheimers whom is in the hospital and will be going to the nursing home. His wife has been appointed an emergency guardianship. The legal document states this is for medical and financial affairs. He has a large CD at our bank and his wife (as the emergency guardian) is wanting to cash in the CD. The CD is titled the elderly customer and his daughter joint with survivorship. The daughter we understand would have claim to the entire balance but she lives out of state and can't come to KY so they were hoping the mother could cash in the CD and give the daughter her half and then use the other half to pay for his care at the nursing home.

This is a large CD so we want to make sure the emergency guardian has the legal right to cash in the CD.

Please help.

Thanks

You need to be consulting your legal counsel and not us.

The attorney we consulted wasn't sure

I have since contacted KBA so hopefully I will find out something today.

Thanks!

The KBA is not going to give you a legal opinion.

The lady I contacted is an attorney for the KBA and we have used her previously for legal questions regarding banking topics. We have also contacted our county attorney who is going to ask the judge who signed the emergency guardianship document.

We are trying to find an answer, but it seems no one wants to say for certain!

It's early on Monday, go easy on me rlcarey. I always appreciate your response when no one else will, however.

our county attorney who is going to ask the judge who signed the emergency guardianship document

That a probably your best choice.

I agree on that statement, rlcarey.

Thanks