Estate Accounts. An estate account is established as a Personal Account and the deceased person’s estate is the Primary Account Holder. The account is opened and managed by an entity or person (the “Estate Representative”) identified at Account opening who has legal authority to act on behalf of the estate. Usually such entity or person is a court-appointed party, and identified as a personal representative, an administrator, or executor. The Estate Representative must satisfy BECU membership rules or the decedent must have been an existing member.
Estate Accounts. A lawfully created estate may establish an account at the Credit Union under certain criteria. A lawfully created estate is an estate created by the order of a probate court located in Colorado, or by an out-of-state court and thereafter domiciled with a Colorado probate court through an ancillary probate filing, for the benefit of a deceased person. There are two ways that an estate can qualify to open an account at the Credit Union. First, if the deceased person was a member, or was otherwise within the Credit Union field-of-membership and eligible to become a member, then an estate account may be opened. Secondly, if all of the estate beneficiaries are currently members of the Credit Union, then an estate account may be opened. Only the persons or entities who have been designated to serve as personal representative(s) may transact business on an estate account. Any individual personal representative may act for the estate and may instruct us regarding transactions and any other account matters. If more than one personal representative is required to authorize a transaction, the estate cannot maintain an account at the Credit Union. Each personal representative jointly and severally guarantees the signature(s) and transactions performed by all other personal representative(s). Any single personal representative may individually withdraw any or all funds, stop payment on items, order checks, or engage in any other activity concerning the account without the consent of the other personal representative(s). In each such case, the act of any single personal representative is binding upon the estate and all of the other personal representative(s). We have no duty to notify any other personal representative(s) about any transactions. Xxxxx-xxxxxx account transfers may only be made in person on estate accounts.
Estate Accounts. An Estate Account may be established if either the deceased person or the Personal Representative of the Estate is a current TruStone Financial member. The Estate must have a TIN and all transactions must be completed by the Personal Representative in their representative capacity. The Personal Representative agrees to indemnify, keep indemnified and hold TruStone Financial harmless from, and against, any and all claims, demands, actions, proceedings, judgments, losses, damages, counsel fees, payments, expenses and liabilities whatsoever, which it at any time shall or may sustain or incur by and reason of: TruStone Financial having complied with the request of the Personal Representative concerning the account, any claims or demands, which may be made with respect to the Estate Account, XxxXxxxx Financial declining to honor the requests of the Personal Representative, or Payment or transfer of credit which TruStone Financial may give, make or permit with respect to this Agreement, whether through inadvertence, accident, oversight, neglect or otherwise. The liability of the Personal Representative under this Agreement shall accrue immediately upon the presentation of any claim by any of the Estate’s assigns, heirs or beneficiaries. This Agreement shall be effective and binding upon the Personal Representative and any successor.
Estate Accounts. A lawfully created estate may establish an account at the Credit Union under certain criteria. A lawfully created estate is an estate created by a court of competent jurisdiction for the benefit of a deceased member or a member under the protection of the court. Only the persons or entities who have been designated to serve as personal re presentative(s)/conservator(s) may transact business on the account. Any individual personal representative/conservator may act for the estate and may instruct us regarding transactions and any other account matters. If more than one personal representative/ conservator is required to authorize a transaction, the estate cannot maintain an account at the Credit Union. Each personal representative/conservator guarantees the signature(s) of all other personal representative(s)/ conservator(s). Any single personal representative/conservator may individually withdraw any or all funds, stop payment on items, order checks, or engage in any other activity concerning the account without the consent of the other personal representative(s)/conservator(s). In each such case, the act of any single personal representative/ conservator is binding upon the estate and all of the other personal representative(s)/ conservator(s). We have no duty to notify any other personal representative(s)/conservator(s) about any transactions.
Estate Accounts. An Estate Account is an account established by the personal representative, executor, executrix, administrator, or administratrix (“Personal Representative”) of the estate of a decedent. To establish such an account, we may require letters of appointment by the probate court of competent jurisdiction, appropriate identification, and such other documents as we may deem necessary under the circumstances. We may rely upon such letters of appointment or the apparent authority of the Personal Representative presenting the letters of appointment until we are notified in writing by the probate court that the Personal Representative has resigned, been removed, or such person’s authority is otherwise terminated. The Personal Representative agrees to comply with all applicable laws and rules of the court.
Estate Accounts. An Estate Account may be established if either the deceased person or the Personal Representative of the Estate has had a relationship with us for the past six months. The Estate must have a TIN and all transactions must be completed by the Personal Representative in their representative capacity.
Estate Accounts. An Estate Account may be opened in order to administer the disbursement of an estate according to the directions of the will. The Executor/Executrix/ Administrator, an individual appointed in a will and approved by a probate court, must be eligible for Credit Union membership as an individual in order to open an Estate Account. In order to open the Estate Account, the Executor/ Executrix/Administrator must present a short certificate as proof they are eligible to administer the estate. You must also provide a Taxpayer Identification Number (TIN) for the account or apply for the TIN at the time of opening the account.
Estate Accounts. The Credit Union reserves the right to refuse membership to an Estate when it is subject to a will not drafted in accordance with and governed by the laws of the State of Michigan, or is subject to an out-of-state probate proceeding. To establish an account in the name of an Estate, the personal representative(s) must provide a death certificate, properly executed Letters of Authority and any other required information required by the Credit Union. An Estate is eligible for membership provided: That the Estate is subject to the jurisdiction of the State of Michigan or will be distributed in accordance with Michigan law The person opening the account has been appointed and accepted, or filed, a Statement of Acceptance of the position of Personal Representative of the Estate The Personal Representative of the Estate qualifies for membership The Personal Representative represents the following: The Letters of Authority presented are in full force and effect and have not been revoked or amended in any manner which would cause the representations made herein to be inaccurate or incorrect The named Personal Representative has qualified, is acting as Personal Representative, and is authorized to open this account and complete other documents for the receipt of financial services from the Credit Union As Personal Representative, you acknowledge and understand your legal obligations as a fiduciary and as more fully set forth in the Michigan Estates and Protected Individuals Code. You further agree to conduct all business with the Credit Union on behalf of the Estate in accordance with state and federal laws as well as orders from any court of competent jurisdiction.
Estate Accounts. An Estate Account facilitates the probate resolution of the property of a deceased member of AllSouth. It is intended to be temporary and closed at the conclusion of the estate’s probate process. The Personal Representative (PR) is the only party entitled to make deposits, withdrawals, or close the Account. If the PR dies, we may suspend the Account until we receive notification by the Probate Court of the appointment of a successor PR. The Account is governed by the rules of the Probate Court and the policies of AllSouth. We have no duty to inquire about the use or purpose of any transaction.
Estate Accounts. An Estate account facilitates the probate resolution of the property of a deceased member of AllSouth. It is intended to be temporary and closed at the conclusion of the estate’s probate process. The Personal Representative (PR) is the only party entitled to make deposits, withdrawals, or close the account. The PR must present a certified copy of the deceased member’s death certificate at the account opening. If the PR dies, we may suspend the account until we receive notification by the Probate Court of the appointment of a successor PR. The account is governed by the rules of the Probate Court. We have no duty to inquire about the use or purpose of any transaction. Fiduciary Accounts. A Fiduciary account facilitates the proper financial management of funds owned by an individual (account owner) that is unable to manage the funds on their own behalf. These include court appointed fiduciaries, Veterans Administration, social security or SSI representative payee accounts. The authorized fiduciary is the only party entitled to make deposits, withdrawals, or close the account. The represented person is the owner of the account and determines the eligibility for membership. If the fiduciary dies, we may suspend the account until sufficient notification of a successor fiduciary being duly appointed. We have no duty to inquire about the use or purpose of any transaction made by the fiduciary. Agency Designation on an Account. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or AllSouth voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent.
