Common use of Death of a Client Clause in Contracts

Death of a Client. If any owner of an account dies, we must be provided with a certified copy of the death certificate and any other document which in our sole discretion may be necessary to establish the ownership of the account before we release the balance in the account to any survivor or to the estate of the decedent or to any beneficiary or beneficiaries of any pay-on-death account or transfer-on-death securities account. However, you agree that we have no obligation to release such balance or any part thereof or any other asset of the decedent, unless and until we are fully satisfied, in our sole judgment, that we will have no resulting liability or potential liability for any estate tax, gift tax, or similar tax under the federal law of the United States or under any other applicable law of any jurisdiction.

Death of a Client. If any owner of an account dies, we must be provided with a certified copy of the death certificate and any other document which in our sole discretion may be necessary to establish the ownership of the account before we release the balance in the account to any survivor or to the estate of the decedent or to any beneficiary or beneficiaries of any pay-on-death account or transfer-on-death securities account. However, you agree that we shall have no obligation to release such balance or any part thereof or any other asset of the decedent, unless and until we are fully satisfied, in our sole judgment, that we will have no resulting liability or potential liability for any estate tax, gift tax, or similar tax under the federal law of the United States or under any other applicable law of any jurisdiction.