BANK ERROR

Our firm represented the estate of an elderly man, "Uncle Larry," who had inadvertently signed signature cards converting his lifelong savings into joint accounts with his caregiver . Uncle Larry had actually requested the Bank allow the caregiver to sign household checks for him. In response to his request, as he was too ill to come to the bank, the bank prepared signature cards for the checking and savings accounts, making them joint accounts, and sent them home with the caregiver. Uncle Larry signed both cards un-witnessed by a Bank representative before passing away 28 days later . No one else learned of the change to his accounts before Uncle Larry passed away. He never expressed to anyone a wish to leave his money to the caregiver and, yet, upon his death, the caregiver claimed ownership of the entire $9 Million deposit. Giving that much money to her would have defeated Uncle Larry's lifelong charitable giving, tax planning and bequests to his family. After the estate settled its case against the caregiver for $2.6 Million, an action was brought against the bank for creating this situation . Essentially, the Bank failed to properly attend to its depositor's instructions. The bank offered only nuisance value and we took the case against the bank to a Santa Clara jury in October 2008 .The jury returned its verdict in our clients favor.