Does a convenience signer's rights cease at the account owner's death?
We have a estate account that was closed in May 20, 2006. The P/R of that estate has a check from the State of Maryland dated 4/4 2012 payable to the estate. This is unclaimed money from the state. What should the P/R do with this check?
A mother opens a CD and names her four children as beneficiaries (Totten Trust). One of the children predeceases her. Would the balance of the CD go to the three surviving children upon her death Or to the three surviving children AND the estate of the deceased child? (All children are over 21 years old.)
If a check is made payable to: John Doe, Personal Rep of the Estate of Jane Doe, can John Doe deposit the check into his personal account? The personal name is first on the payee line, not the estate.
We have a customer that has cancer and is trying to get her accounts set up correctly for the least amount of issues when she passes. She was told by an attorney to have her sister be a signer on her accounts as she can negotiate checks after she passes until an Estate account is set up. We were told by someone within the bank that the signers' rights are like a power of attorney (they are no longer valid after she dies). What is the correct way to set up this account? Washington State - community property.
An attorney who represents the personal rep of an estate wants to deposit a check payable to the estate into his escrow (Attorney) account. is that permissible?
An account holder (JOHN) is hospitalized and unable to get to the Bank. John gives a written order to his sister to withdraw money from his Bank Account with the implied intention of paying for his medical bills. The sister arrived at the Bank three days later, after John has passed away. The Bank is aware that John has passed-on. Should the Bank honor the letter of instructions?
We have a safe deposit box rented to customer and his wife who is now his ex-wife. The husband is deceased and his son has been named executor of his estate. The son wants to enter the box as executor. Can he do that without the ex-wife present since she is still showing as joint renter?
We are being asked to open an estate account. The short certificate names two executors as AND. Can the account be set up to allow either of these executors to have access to the funds. Will only one signature be required on the checks?
Can a check payable to The Estate of John Doe, that has been endorsed by the Personal Representative of the Estate, then be deposited into an IOLTA account of the PR's attorney? We want the PR to open an account in the name of the Estate so that this check can be deposited there, but the attorney is insisting the check be deposited into his IOLTA. Should we let that happen?