A Florida woman whose husband died about 16 months ago has been struggling ever since to try to get money out of the Wells Fargo savings account that her husband had in his name. Julia Bolena has had little luck in gaining access to the funds because of a number of problems.
Before her husband had died, the couple had apparently created a living trust and transferred some of their property to it so as to eliminate the necessity of having to go through probate. Unfortunately, it appears that Mr. Bolena never transferred the savings account he had with Wells Fargo Bank to the trust.
Though the couple had a checking account with Wells Fargo that was in both of their names, the savings account was only Mr. Bolena’s name. Because Mr. Bolena did not list his wife as a joint account holder, nor did he transfer the account to the trust, Mrs. Bolena has been unable to access the money.
To make matters worse, when Mrs. Bolena contacted a Florida probate clerk to ask what she could do to access the funds, the clerk told her that it would cost her $250 for the clerk’s office to issue her a letter that would direct Wells Fargo Bank to allow her access. The account in question only has a little over $270 in its, making acquiring the letter nearly pointless. To add insult to injury, Wells Fargo is charging a small fee to the account funds every month, further depleting them.
Raymond J. German, LTD. is a member of the American Academy of Estate Planning Attorneys.