Ask Terry Questions Mother pension goes into a trust bank

Mother pension goes into a trust bank

By Terry Savage on January 29, 2024 | Wild Card

Hi Ms. Savage,
For years my mother’s pension has been going into Northern Trust Bank. Her plan is to use some of the money to be used toward her final arrangements and for the rest to go to her great grand children. She hasn’t received any statements and doesn’t know exactly how much she has put in there, she’s misplaced any account information. My mother is getting older and I’m trying to make sure all her final wishes will be fulfilled. Will it be easy to draw money for her funeral from this trust whenever she passes away? What do we need to do to make sure all her wishes are fulfilled? I really need advice. Thank you for your time and patience.

Best Regards,

Terry Says

No, it won’t be easy — now or after her death. If you haven’t drawn any money out or received any statements, the account might have been turned over to the State of Illinois.
Call them immediately at 312-630-6000.

Have your mother’s name and address and Social Security number. Tell them she is alive and can confirm by getting on the phone, but that she has lost all her records. They won’t give the info to you unless you can demonstrate her mental capacity.

Also contact the company she worked for and ask them where the checks have been going! You’ll have to go through the same routine, so do it on a good day for your mother!

And please let me know what happens, or I’ll be wondering forever!



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