Common use of Estate Accounts Clause in Contracts

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. An estate account is established as a Personal Account and the deceased person’s estate is the Primary Account HolderMember. 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, administrator or executor. The Estate Representative must satisfy BECU membership rules or the decedent must have been an existing member.