Is there a time frame in which an estate has to be settled?
A widowed wife brings in a recently dated check for her deceased husband who passed away 7 years ago. He is no longer listed as a signer on the account. Can the check be cashed or deposited? What should be done with the check?
A single owner checking account died,can his surviving spouse have any of this money (she is not an owner or a signer)?
An account owner dies with a beneficiary. A check is brought in by the beneficiary payable to the estate. Must the account be changed to an estate account with an estate EIN or can the individual's account be changed to an estate account using their SSN for a short time?
Does a bank revocable trust account override a will?
Can a revocable trust be a POD on an estate account?
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?
Does a bank revocable trust account override a will? There are three beneficiaries named in a will. Now one of the three parties has also been named a beneficiary in a newly created bank revocable trust account. Will that person receive the entire revocable trust account funds because it bypasses the will, or will all three parties designated in the will receive the revocable trust account funds? The revocable trust account is not addressed in the will because the will was created months before the bank revocable trust account was set up. Do all three parties designated in the will need to be designated as beneficiaries for the revocable trust account to receive those account funds? The person that is a beneficiary in the will and is also now the sole beneficiary of the revocable trust account is in addition the executor of the will.
How long can a customer's checking account be kept open after their date of death?
In opening an account for a 1031 exchange - can the owners of the funds be joint with right of survivorship or can one owner name a beneficiary?