Vendor Guru Q&A - Compliance

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Latest Compliance - Estate Topics

Beneficiary on an Estate of Conservatorship Acct.

09/29/2019

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?

Checking Acct. for Estate-Electronic Draft?

06/30/2019

Is a checking account for an estate allowed to have an electronic draft debited from the account?

"Payable on Death" Acct. Bypass Beneficiary?

09/16/2018

May a "Payable on Death" account bypass payment to the beneficiary and go straight to the estate account if the Executor requests this?

Requirements for Opening Estate Account

11/12/2017

What are the requirements needed to open an estate account?

POD Account: Transferring Funds to Estate

01/31/2016

A member has passed, and her account was a POD account, with 3 beneficiaries listed. The executor of her estate has come in, asking to transfer the funds to the estate. Do we pay out the beneficiaries, or do we follow the executor, and transfer funds to the estate account?

Can 3rd Party File A Dispute On Deceased Account?

01/12/2015

Can a third party file a dispute on a deceased account? The person filing a dispute on his deceased mother's account claiming spouses of other family member used card and pin to withdraw funds. The POA submitted was null at Death and was written for DNR.

Administrator on Estate Account

03/24/2014

On an Estate account can a person having a power of attorney from the administrator be added and conduct transactions?

Requirement for Appraisal Engagement Letters?

04/22/2013

Is there a regulatory requirement to have appraisal engagement letters?

Acct w/Deceased Owner and No Executor or Heir

04/15/2013

I have an account with a deceased owner and no one listed as executor (no known heir). They also have a safe deposit box which drafts the account to keep current so this never goes into a dormant status. How do we handle a situation like this when the owner is deceased no heirs no executor of estate known?

CRA Definition for Commercial/Industrial Purpose

03/25/2013

Under CRA, what constitutes a commercial or Industrial purpose? I have looked for a definition to no avail. Would this include a loan to a small business for a capital injection?

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Info on Deceased Customer's Safe Deposit Box

10/20/2019

We received a call from a customer's child asking for information about a safe deposit box in name of our customer who is now deceased. This person was listed on signature card but never signed it. Should we give him any information regarding the closing of the box?

Latest Compliance - Estate Topics

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