08/20/2012
A customer came into our bank to cash a check made payable to cash off of a trust account that is not hers from another bank. I refused to cash the check. The customer became irate and pulled her account from us and complained to my boss, who is telling her he can cash it and I was wrong. Wouldn't cashing the check be a breach of our fiduciary duty?
08/06/2012
We have a customer that has Letters Testamentary naming him Executor of his father's estate. We have a check payable to the Estate and the customer refuses to open an estate account. Can he endorse the back of the check as the executor and deposit to a personal account?
07/16/2012
Can an authorized signer be added to a revocable trust?
06/11/2012
What type of endorsement is required for a deposit into a trust account?
04/02/2012
What are the differences between opening a minor account vs a UTMA? Are we responsible to "police" with use of funds in either case?
02/27/2012
What are the rules/penalties for a UTMA account in Texas, when a custodian redeems funds from an account if the child is over 25?
01/23/2012
We have a customer that wants to cash a check with this verbiage in the payee designation: "John Doe TTEE Jan Doe Trust DTD 12/28/1972." What is the correct endorsement on this check? What endorsements are required on cashing a check payable to a name AND name JWROS account?
01/09/2012
Can a check payable "Jane Doe, custodian for John Doe, UTMA" be deposited into the custodian's personal account? I seem to remember that with UTMAs that's acceptable, but with UGMAs it's not.
01/02/2012
If a check is payable to Custodian's name FBO minor's name, can the bank allow it to be deposited into the custodian's business account?
12/05/2011
Can a check payable to 'Jane Doe, Cust. FBO Jill Doe UGTMA' be deposited into Jane Doe's joint account with John Doe?