Charity May Sue Bank For Failing to Get Beneficiary Change

Even though charity did not contest distribution of estate, Court says charity may sue two years later for negligence

The Watch Tower Bible and Tract Society of Pennsylvania has been permitted to sue Fifth Third Bank in Ohio for failing to have a customer complete a change of designation form on his “payable on death” accounts even where the Society’s lawyer had filed an entry of appearance in a probate court case determining the rightful owner of the funds. The Court of Appeals of Ohio has said the Society was not precluded from litigating the issue because it was not decided in the earlier case. ( Fifth Third Bank v. Watch Tower Bible & Tract Society of Pennsylvania, Ct. of App., OH, No. 96403, 10/6/11 .)

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Charity May Sue Bank For Failing to Get Beneficiary Change

Charity May Sue Bank For Failing to Get Beneficiary Change