A business customer died 2 1/2 yrs ago. Due to estate disputes, an attorney was assigned to settle the estate. Recently the attorney sold the business. The attorney and the new owner came to the bank and requested to have the attorney's name removed and to add the new owner to the existing account. Due to several family members of the deceased having all the account information, I informed them that I would need to close the existing account and open a new account. The attorney was not happy. They did not bring documents reflecting the sale of the business or documents reflecting the owner name change being filed. What is the standard or best process for this type of situation? Should a new account be established if the required documents are presented or is it acceptable to simply change names and keep the existing account open?
We returned three checks that were written on 8/22 and 8/23 as forgeries. Today, I received a claim of late return. I thought we had 60 days to return these; can you please clarify the parameters for this?
A ninety-seven year old widowed customer was brought in by one of his sons to change the register on his account. Our customer's wife had passed and he removed her and added the son as beneficiary to his now sole ownership account. Six months later the same son was granted Conservatorship over his father and changed the register to "Estate of..." Should we leave the beneficiary on an Estate of Conservatorship account?
An IRS levy requires payment after 21 days. - When the 21st day is on a non-business date, when should the funds be sent? - Are the 21 days calendar days? I have found no information in the IRS codes addressing the details of 21 days.
XYZ, LLC was opened with a certification of two individual signers owning 10% and 16% of the company. However XYZ’s company agreement stated that another LLC (ABC, LLC) owned 90% and one individual (one of the signers) owned 10% interest of the company. The ABC, LLC was not indicated on the certification. Based on the XYZ’s company agreement, do we need to request beneficiary ownership information on the ABC owners?