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How to Title Fiduciary Account

We have a customer receiving her deceased husband's VA check monthly. The VA sent a letter requesting information on the title on the account into which the check will be deposited. It MUST be titled correctly in order for the deposit to go in. It was suggested that we title it as a fiduciary account with both persons listed on the account. How would we title this account to be correct? Currently we have the spouse as trustee and the deceased husband as fiduciary owner listed as the titles on a fiduciary ownership. Is this correct?

Randy Carey

She needs to talk to her attorney. How can someone act as a fiduciary when the beneficiary is deceased?


John Burnett

If the widow is still receiving her husband's VA checks, there are bigger problems than how to title the account. A veteran's benefits end with his or her death. On the other hand, if she is actually receiving survivor's benefits, she can receive them in her own right, and there should be no problem having the account in her name.

Plainly put, if the check or ACH payment is in the name of the deceased, the bank should not be a party to receiving it.

First published on 08/02/2015

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