Subpoena question

Subpoena question

incaseofillness@aol.com (Incaseofillness)	10/23/2004 10:02:17 PM
A member of family has a joint bank account with me. There is over $200,000.00 in the account. 99% of the money in the account is mine. Today the bank received a subpoena to show all bank records. The family member has a $300,000 criminal judgment against him I was unaware of. What can I do to protect my money? The bank has until October 31 to provide the information. Am I legally allowed to withdraw my money a.s.a.p. and can the courts just seize my money after they find money in this account to pay off my family members debt.



"Zen Cohen"	10/24/2004 12:02:17 AM
"Incaseofillness" <incaseofillness@aol.com> wrote in message news:20041023180217.25434.00002719@mb-m04.aol.com... A member of family has a joint bank account with me. There is over $200,000.00 in the account. 99% of the money in the account is mine. Today the bank received a subpoena to show all bank records. The family member has a $300,000 criminal judgment against him I was unaware of. What can I do to protect my money? The bank has until October 31 to provide the information. Am I legally allowed to withdraw my money a.s.a.p. and can the courts just seize my money after they find money in this account to pay off my family members debt. If the money is yours, it may be ok to withdraw it if that's still possible, and it could conceivably make things worse, but with $200k at stake, you would be absolutely insane not to consult with a lawyer about this asap.



Christopher Green	10/24/2004 7:52:36 AM
On Sun, 24 Oct 2004 00:02:17 GMT, "Zen Cohen" <aturny@hotmail.com> wrote: "Incaseofillness" <incaseofillness@aol.com> wrote in message news:20041023180217.25434.00002719@mb-m04.aol.com... If the money is yours, it may be ok to withdraw it if that's still possible, and it could conceivably make things worse, but with $200k at stake, you would be absolutely insane not to consult with a lawyer about this asap. This does raise the question of whether a joint tenant, withdrawing his (presumably legitimate) share one step ahead of the other's creditors, could be attacked as having committed a fraudulent transfer. Because of the potential for abuse in this situation, I suspect the court would not allow such a withdrawal to go unchallenged. At best the OP would need to prove that the money was no more than his share of the joint account, by showing a record of contributions to the account. But I'm not a lawyer. You're right, the OP unquestionably needs a lawyer. He stands to lose the whole $200K very quickly if he goes it alone. -- Chris Green



"Richard"	10/24/2004 10:38:16 PM
Incaseofillness wrote: A member of family has a joint bank account with me. There is over $200,000.00 in the account. 99% of the money in the account is mine. Today the bank received a subpoena to show all bank records. The family member has a $300,000 criminal judgment against him I was unaware of. What can I do to protect my money? The bank has until October 31 to provide the information. Am I legally allowed to withdraw my money a.s.a.p. and can the courts just seize my money after they find money in this account to pay off my family members debt. No legal advice is given, only an opinion. If I were you, I would take all but $50 out of the account and put it elsewhere. As the sole account holder. Unless you are legally married to the other joint account holder, you are not legally responsible for their debt. Even then, in some states you may not be responsible. By all means, consult with an attorney immediately.

Report this post for offensive content