# No savings paid out because no will was made



## PatrickJ (19 Aug 2014)

A work colleagues only surviving parent, deceased June 2014, died without leaving a will. However, the deceased did make clear via a legally binding document with their local credit union, that they wished their sibling to be in receipt of their Credit Union savings. 
The Credit Union are refusing to make good on the wishes of their former member because there was no will made.

I thought this was a wind-up until I was shown a copy of a letter from the CU stating the above.

What should the complainant's next steps be please?


----------



## Slim (19 Aug 2014)

Hi. The CU can only act on foot of a valid nomination. Any other documents are null & void on death. On death, the total savings, up to a value of €23,500(?) will be paid out to the nominee. Anything over that is part of the deceased's estate. The member makes the nomination which must be re-made on marriage.


----------



## SparkRite (19 Aug 2014)

PatrickJ said:


> A work colleagues only surviving parent, deceased June 2014, died without leaving a will. However, the deceased did make clear via a legally binding document with their local credit union, that they wished their sibling to be in receipt of their Credit Union savings.
> The Credit Union are refusing to make good on the wishes of their former member because there was no will made.
> 
> I thought this was a wind-up until I was shown a copy of a letter from the CU stating the above.
> ...




Just trying to work out who the complainant is.

You start by saying " A work colleagues only surviving parent...." and then go onto say " they wished their *sibling* to be in receipt of their Credit Union savings."

Is it a son/daughter of the deceased or an actual sibling of the deceased who is the complainant, as I find the  OP a little confusing, or maybe I'm just reading it wrongly.


----------



## PatrickJ (19 Aug 2014)

My apologies.  To clarify as follows . . .

The son (my colleague) of the deceased Credit Union member was nominated as beneficiary of his mothers CU savings.  

The CU are refusing to make good on the deceased members request due to her not having a valid will made. 

This does not seem correct to me.


----------



## Brendan Burgess (19 Aug 2014)

PatrickJ said:


> However, the deceased did make clear via a legally binding document with their local credit union, that they wished their sibling to be in receipt of their Credit Union savings.




As Slim points out there are only two valid documents here
1) The official CU nomination form
2) A will 

Are you saying that you have a valid official CU nomination form, and they are disregarding it? 

How much is involved?  Can the estate not pay the sister if that is what your mother wanted?  Will it bring them above the CAT thresholds? 

Does the Credit Union pay out double the savings in the event of death?


----------



## Crugers (19 Aug 2014)

PatrickJ said:


> The son of the deceased Credit Union member was nominated as beneficiary of his mother’s CU savings... The CU are refusing to make good on the deceased members request due to her not having a valid will made.


If the credit union had a valid nomination before the member died then there should be no question of them not paying the nominee up to the maximum nominated amount (€23k). In some cases there may be a delay while they await funds due from the "free" insurance. But that would only be a delay... Any funds above the maximum nomination value (€23k) would form part of the deceased member’s estate. This is normally paid to the Administrator by cheque payable to "The Estate of...."

  Credit Unions would not normally/usually/EVER concern themselves with a deceased member’s ‘Last Will and Testament’. I can't see any reason why they would. As far as I know no bank or other financial institution does either!


----------



## Thirsty (21 Aug 2014)

> Last Will and Testament’. I can't see any reason why they would. As far as I know no bank or other financial institution does either


Bank will open an executor's account on presentation of will (or certified copy) which states who the executors are.


----------

