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I'm needing some advice on a family situation. My brother is 26 and, against my advice, let his mom be a joint person on his bank account a few years ago. He came to me a few days ago and told me mom wouldn't allow him access to his last paycheck from his retail job. His last paycheck was around 500. The reason for my mom restricting his access was because she didn't want him to use the money to buy whatever he wanted. (My brother isn't a druggie, or alcoholic, or anything like that.) He's a good person. He attends school for his bachelors degree, is pretty much a homebody, doesn't party, doesn't date. This isn't the first time our mother has done something of this nature. Or our dad. His car recently died, the battery died and needed a jumpstart. But My parents refused to jumpstart the car. Their reason? We just moved to New England and they don't want my brother driving in the snow. (Mind you: the roads are very maintained here, the snow plows do an excellent job, and my brother has never once been in an accident or gotten tickets.)
That's all background info! The question is: how can my brother get access to his funds? The bank said he either has to give them a utility bill or a bill with his name on it or come into the branch and get the money(which is in Memphis, TN and we live in New England now). Aside from flying down there to get the money in person, what other options does my brother have?
A joint account does not allow one party or the other to restrict funds.
Something doesn't add up here...
This.
The only way your mom could "restrict his access" is to take his money out of the account and keep it herself or move it to an account that does not have him listed as an owner.
Your brother is a grown man. He needs to open his own bank account and have his checks deposited there. This is a ridiculous situation and he's fully capable of rectifying it from this point forward. However, if she's taken the money out of the joint account, it will be difficult for him to recoup it, and he certainly cannot expect the bank to help him. Money in a joint account belongs to both account owners and either owner can take some or all of it out at any time.
See that's what I'm thinking. She told him it was a joint account. I'll call on tomorrow with him to see what type of account it is.
Why doesn't your brother know what sort of bank account his money is in? And why are you in the middle of this?
If I were you, I'd stay completely out of this other than telling your brother to take responsibility for his own money and his own bank accounts and cut the apron strings.
Wow...that's messed up if she did that. He just confirmed it's a joint account.
I told him before he did this years ago that it was not a good idea. The more he's independent of them the better. It just makes me so angry that she treats him like that. Ok I told myself I wouldn't get upset lol. Thanks for your advice!
He wants his money bad. He needs it for gas for his new job and his bills and needs and other things. He wants to fly down there and get the money out of the bank himself. He wants me to consider a vacation back to our hometown-which I'm not too opposed to, since I have business there to take care of.
Quote:
Originally Posted by KathrynAragon
This.
The only way your mom could "restrict his access" is to take his money out of the account and keep it herself or move it to an account that does not have him listed as an owner.
Your brother is a grown man. He needs to open his own bank account and have his checks deposited there. This is a ridiculous situation and he's fully capable of rectifying it from this point forward. However, if she's taken the money out of the joint account, it will be difficult for him to recoup it, and he certainly cannot expect the bank to help him. Money in a joint account belongs to both account owners and either owner can take some or all of it out at any time.
He wants his money bad. He needs it for gas for his new job and his bills and needs and other things. He wants to fly down there and get the money out of the bank himself.
Hopefully she has not cleaned him out.
Has he checked the balance?
Can't he close the account online or by phone? Have then send the balance to the address of record (which should be his address).
He wasn't sure because he just isn't vested in being a fully functioning independent adult, to be honest, God love him. Our parents have just worn him down over the years with their strict parenting(no friends unless they approve, no dating girls unless they approve, no travel unless they approve, be in the house by 10 p.m. regardless of your age.) He's soooooo compliant he just doesn't do anything.
I guess I'm in the middle because I live with them too! But, I'm not dependent on them, as much, as my brother is. I have my own bank account, car, job, income, etc.
He wouldn't have been in this position at all if he had just stayed in our hometown and finished his education there. But since my parents didn't "approve" of him staying behind and told him that the car they bought him was coming with them to New England, he just decided to come along.
Quote:
Originally Posted by KathrynAragon
Why doesn't your brother know what sort of bank account his money is in? And why are you in the middle of this?
If I were you, I'd stay completely out of this other than telling your brother to take responsibility for his own money and his own bank accounts and cut the apron strings.
Wow...that's messed up if she did that. He just confirmed it's a joint account.
I told him before he did this years ago that it was not a good idea. The more he's independent of them the better. It just makes me so angry that she treats him like that. Ok I told myself I wouldn't get upset lol. Thanks for your advice!
He wants his money bad. He needs it for gas for his new job and his bills and needs and other things. He wants to fly down there and get the money out of the bank himself. He wants me to consider a vacation back to our hometown-which I'm not too opposed to, since I have business there to take care of.
Stay out of this. That's my advice.
But I do have a question - are your parents paying for your brother's education?
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