In trust accounts were in my name since my childhood until adulthood. Then Owner of accounts became ill and relatives then participated in removing my name from all the accounts. Also how many years do banks keep records? Do I have any rights to records for proof? What if banks changed names over the years? Thank you.
Nicole Lee CiufiWills and Living Wills LawyerNew York, NY ·
What is the frame for suing for inheritance theft?
This is a general question, which can have different answers based on what type of theft occurred, and whether a will or trust is involved.
In your situation, to contest the validity of the ITF beneficiaries named on the account, you normally have the earlier of (1) 3 years after the decedent's death or (2) 120 days after you received notice of the trust's existence and the changed beneficiaries
Can I prove influence on changing names on ITF acct?
YES, you can contest an ITF designation. You can allege that the creator of the account was not competent to make the change, or that others unduly influenced him/her.
It is important to have as much evidence as possible to support your claim, otherwise the court will likely encourage you to settle.
If you contest the designation, and decide to settle, the court will use a "3 year look back" (or something agreed upon by all parties) to determine which assets of the decedent should be included in your settlement.
How many years do banks keep records?
The federal reserve requires that all US bank participate in a "Customer Identification Program." The rules require that a bank retain the identifying information obtained about the customer at the time of account opening for five years after the date the account is closed or becomes inactive.
What if banks changed names over the years?
If the ITF account beneficiary name was changed, it is likely that the bank has a record of it.
I agree that you should provide us with a time frame so we can form a more precise answer. It would also help to know whether you have any copies of the original documents that name you as a beneficiary on the trust accounts.
This would be a much easier question to Answer if we knew, how old you are now; when you found out about the accounts; and when you found out about the accounts being changed out of your names. You also might want to check with the New York State Comptroller to see if there are any unclaimed funds in your name, as this often happens when individuals get older and banks change ownership. \
There are a lot of complicating factors that need to be addressed in order to fully answer these (and other) questions. Although convenient, there are limitations on a Q&A forum such as this and given the issues you have identified you should consult directly with competent counsel in order to thoroughly review your situation and come up with an appropriate game plan for moving forward.
