ESTATE ACCOUNT. If an estate account is designated in the account opening documents, the Applicant is the executor or personal representative of the estate in that capacity. You may require estate documentation to release funds from any account(s) upon the death of the Applicant. Estate documentation means any document that may be required by you, in your sole discretion, and may include a Death Certificate, notarial Last Will and Testament or Court Grant.
ESTATE ACCOUNT. 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 court.
ESTATE ACCOUNT. An Estate account is owned by the estate of a deceased individual and managed by the executors, administrators, personal representatives or other court-appointed fiduciaries of the estate (collectively referred to as “executors”). We may limit the number of executors who may be on an estate account and may change these limits at any time. All of the estates’ executors and beneficiaries must be natural persons. We require that executors provide us with an executor certification, documents showing that the executor has been legally appointed as the fiduciary for the estate, and any other documentation we may require from time to time in a form satisfactory to us. The executors agree to hold us harmless from and against any action that we take or any executor takes regarding the account in reliance on such certification or other documentation. The executors acknowledge and agree that they, and not the Bank, owe a fiduciary duty to the estate and the beneficiaries of the estate and that the Bank is in no way acting as an executor of the estate or holding any funds on deposit with us in a fiduciary capacity. Each executor has the right to: (1) make deposits, withdrawals, transfers or payments to or from the estate account, close the account, or make any other request relating to the account without the consent of any other executor; and (2) for accounts that allow check-writing, write checks drawn on the estate account without the consent or signature of any other executor. We have no duty to monitor or ensure that the acts of any executor are for the use or benefit of the beneficiaries or are otherwise permissible under the deceased individual’s Will or applicable law. We will not be liable if any executor exceeds his or her powers or does not comply with the deceased individual’s Will or applicable law. We may honor and pay any check, withdrawal slip or other instrument or order for the payment of money when signed, authorized or approved as evidenced by the original or facsimile signature of any executor identified to us as authorized to access the account, including any payable to us or payable to any executor or to cash or to bearer, and we may receive the same in payment of the personal indebtedness of any person to us or in any transaction, whether or not known to be for the personal benefit of any executor or other person, without inquiry as to the circumstances of issue or the disposition of the proceeds, and without liability to us, and without any ob...
ESTATE ACCOUNT. Estate accounts include, but are not limited to, executor, administrator, and personal representative accounts of a decedent’s estate. We reserve the right to require documents and authorizations we believe are necessary or appropriate to satisfy us that the person(s) requesting or directing the transactions related to an estate account have the authority to engage in such transactions, We will continue to honor the estate authority presented until we receive written notice that the authority has been altered or terminated and we have had a reasonable time to act on that notice.
ESTATE ACCOUNT. An Estate Account is established by an executor or administrator to handle the affairs of a deceased person's estate. Prior to opening an Estate Account, the executor or administrator must provide us with a current Letter Testamentary or a Letter of Administration showing that such person is the executor or administrator of the estate.
ESTATE ACCOUNT. If an estate account is designated in the account opening documents, the Applicant is the executor or personal representative of the estate in that capability. The deceased is identified in the Attachment for Trust or Estate Account.
ESTATE ACCOUNT. If the account is owned by an estate of a deceased person, each individual signing as an authorized signer on the account must be authorized to operate the account through court documents, such as “Letters Testamentary” or “Letter of Administration.” Estates must obtain an EIN as required by the IRS.
