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Of course it would help to know what state you are in, however in most states:
Only the party that holds the account can access it. In the event the account holder is incapacitated or terminally ill, then it would be the next of kins responsibility to appoint a "gaurdian-ad-litem".
The name of this may vary in your state but the purpose is the same. You request the court for permission to handle the incapacitated persons affairs. That is assuming they do not have a living will. In that event a person has been named and a directive has been introduced.
Once the individual dies their Last Will (testate) will have specific bequest as to money, property (real and personal), bonds, etc...
If their is no will (intestate) then the next of kin needs to file a list of heirs with the probate court in the jurisdiction where the decedent resided.
Gets complicated from here.... hope this helped
Wiki User
∙ 12y ago
Yes, a terminally ill person can access the funds in their bank account to cover medical expenses or other end-of-life needs. They may authorize someone else to manage their finances on their behalf if necessary. It's important to consult with a financial advisor or lawyer to ensure everything is handled properly.
Wiki User
∙ 13y agoYes.. its not illegal but make sure that the withdrawer has his power to withdraw money(power of attorney)
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