12/05/2011
Can a Roth IRA take in $50k as a loan and carry it as a liability in order to purchase property which will be listed as an asset?
11/21/2011
Can a legal power of attorney act for a trustee on a trust account?
11/14/2011
Can an attorney-in-fact add himself to an account as a joint signer?
10/17/2011
If a customer has checks made payable to a deceased (whom he has certified copies of order of probate) can he deposit them without opening an estate account? The deceased died in 1989 and the company issuing the checks will not change the pay to the order of. The customer does not want or feel it necessary to open an estate account for a few checks.
10/03/2011
Can a sole owner account with a beneficiary change to a conservator account? Also, can the beneficiary remain on the account?
09/26/2011
Recently, our New Accounts has opened a few Guardianship Accounts. They have the proper documentation but we believe that the accounts may be under the incorrect social security number. What social security number should the account be filed under? Is it the Guardian (representative) or the Guardianship (beneficiary)?
08/22/2011
Currently, when we receive a IRS Tax Levy, we look at the Social Security Number or EIN Number on the Levy and the name. We then research this information in our system to see if they have an account(s) and what funds are available to hold on the day the Levy is presented. We base this on the Name and EIN or Social Security Number provided on the Levy. My question is if we perform our search and determine that the primary name and Social Security number on the account does not match the Levy but the person the Levy pertains to is a signer or secondary owner to the account (Joint Account), should we hold those funds? Should this be done even if it's a Business, Minor Account, IOLTA, Escrow etc.? I would think consideration should be given to the relationship the person upon whom the Levy is presented has to the account.
08/08/2011
Where can I find information on charging off fiduciary checking accounts?
08/08/2011
A daughter has power of attorney for the mother. The daughter closes all of the mother's accounts and then wants to put the money in an account with just the daughter and the daughter's husband. Is this permissible with a power of attorney? Wouldn't this be a breach of fiduciary duty?
08/01/2011
Can a check payable to David Jones (Trustee for Emily Jones trust dtd 9/1/91) be deposited into a personal checking account for David Jones?