08/15/2011
We have an IRA customer that has passed away. The named beneficiary was his son. The personal representative provided a copy of his will that revokes any designation that may have been established and that all accounts be payable to the estate. Does this revocation in the will override the beneficiary designation?
08/08/2011
Where can I find information on charging off fiduciary checking accounts?
08/08/2011
A customer brings in a check payable to "Chuck and Charlotte Customer Living Estate." Chuck and Charlotte have a deposit account with the ownership title "Chuck Customer or Charlotte Customer." Do we need any additional documentation before processing this check? If their daughter Suzie has Power of Attorney for both Chuck and Charlotte's financial affairs, can Suzie cash the check?
08/01/2011
We have a joint account for a sister and a brother. The sister passes away. The family is in the process of establishing an irrevocable trust but is waiting for a tax ID number. The family needs to pay bills and has checks in the sisters name. Can the checks be made payable to the brother stating for deposit only and be deposited in the deceased sister and brothers account for him to pay the bills? Do they need to wait for the tax ID# to deposit into the trust account in order to pay the bills?
07/25/2011
Can an IRA be put into a trust name?
06/13/2011
We have a former customer that had individual accounts as well as some joint accounts. Prior to her death, she came in and closed all accounts and transferred to another institution. After her death we were contacted by the Executor wanting to know what she did with those funds. In North Carolina, does the executor have rights to this information?
05/30/2011
A member is deceased and she has an estate with an administrator on the account. Can we place holds on the account?
05/30/2011
An account holder establishes four POD beneficiaries. The account holder dies, and two weeks later, one of the POD beneficiaries dies. Do we cut four checks with one of them being made out to the beneficiary's estate? Or do we cut three checks equally among the three that are still living?
05/09/2011
I have a check made payable to John Doe and Jane Doe, Individually and as Husband and Wife, Only. Can you please explain this endorsement?
04/25/2011
When a customer dies who is receiving a social security check in the middle of the month, how do you determine if the deposit needs to be returned?