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Risk and Reward on Court Ordered Accounts

Answered by: 

Question: 
Do we have to open court ordered accounts?
Answer: 

No. Some institutions do not open court ordered accounts like estates and guardianships. It may be there was a loss in the past or that there is just not enough staff to keep an eye on the requirements in the paperwork. For example, if you have Co-executors who have to act together, your system may not be able to manage that and you will have to refuse the account.

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Learn more about Deborah Crawford’s

Reviewing Legal Documentation on Deposit Accounts webinar.

First published on 03/21/2021

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