My mother-in-law (MIL) has an account Joint Tenants by the Entirety with her daughter. MIL opened the account and funded the account with her money. She added daughter to the account some years later. Daughter claims the money is hers. MIL is in pretty desperate need of this money; it's approximately $21,000. She called the financial institution which sent her a check (made out to both of them), but her daughter somehow stopped payment on it and also wrote a letter to the financial institution not to release any money without her approval. Daughter has no relationship with my MIL, my husband, or myself. I have called, emailed, and texted her. I even told her she was committing financial elder abuse. I received no response. MIL is 79, has dementia, is bedridden and can't care for herself. Her boyfriends lives with her but he isn't capable of providing adequate care for her. She needs either care in her home or to go to a nursing home. If she goes to a nursing home, Medicaid won't initially pay because of the $21,000 account. This is in Florida. I have called Adult Protective Services, but have not gotten anywhere thus far. Any advice would be greatly appreciated.
My hubby is POA. his brother is a door-nob.
Hubby has to get POA to protect his mom from his doofus brother wanting to spend it.
And my husband KEEPS ALL RECEIPTS.
So yeah. get a POA stat.
Once you get your ducks in a row, if MIL can travel (wheelchair?), I'd bring her to the bank to withdraw her share, open another account with your name on it as POA.
Jude, are you saying that in order for MIL to withdraw cash, that she will need the other signatory? I know that with one of my savings account, my sister and I are named on it. But in order for one of us to withdraw that cash, we need the bankbook (or passbook). No bankbook, no cash.
dammit
Moreover, to create a tenancy by the entireties under Florida law, unities of time, title, possession, marriage, and interest are required.
Thus, both spouses must (i) receive title in the same conveyance, (ii) hold title to the property, (iii) have equal right to use and possess the entire property, (iv) be married to one another, and (v) have an equal interest in the whole of the property.
If any of these unities are not satisfied, there is no tenancy by the entireties.
AND I WILL BET SHE KNOWS THIS
Why does your sister feel it is her money? Has she given an reason that she is reluctant to release it if your mother needs it, beyond saying that it is hers?
THERE SHOULD BE STATEMENTS SHOWING WHO PAID IN WHAT AND WHO WITHDREW WHAT AND UNLESS YOUR oops sorry caps lock
friends daughter can prove she put all the money in and never drew a penny out then half will go to each I suspect.