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They are certainly able to do so. There has to be a full accounting of the funds in their control. They may need to pay off debts of the estate.
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∙ 14y ago
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How long does it take to take money out of a CD Account if I need it for an emergency?
The time at which you can withdraw from a CD Account depends on what the CD Maturity is. These can range from a few months, to a few years. For example, if you have a 5 year CD, you can not withdraw from that account until the 5 years are up.
What do I need to know before opening a bank CD?
You will need to know the penalties and fee's for the account if you decide to withdraw money and if you are able to withdraw at anytime or if the money is locked in for a specific timeframe.
Why is a CD better then a savings account?
Because they earn a higher interest rate than savings accounts. The interest on CD's is atleast 2-3% higher than savings accounts. On the downside, the money in your CD is not as liquid as your savings account and your bank may charge you a penalty if you withdraw the money before maturity date.
If your parents put monies into a CD or Ira account in your name can your widowed Mother or your brother who is executor redeem them without you knowning?
If my parents put monies into a CD or IRA account (20years ago) in my name, cane my widowed Mother or my brother (who is executor)redeem them without me knowning, or being present? And, or do they have the right to use the money in any other way than to transfer it to me?
What are two advantages to saving money in a Certified Deposite?
Some advantages are:Your money is not idle and earns an interest for youThe interest earned in a CD is much higher than the interest you will earn in your savings or checking accountYou can withdraw your money anytime you want
When you close a CD at maturity and withdraw the funds do you have to pay taxes on the money received?
Yes when you file your 1040 income tax return for the year that the CD was cashed in you will have to report the amount of interest that you received as income for that year on your 1040 income tax return. But NOT on the principal amount??
What happens to your money in the CD accounts?
It gets granted as loans to other customers. Banks make money by lending loans out of the money we deposit with them. In case of a regular savings account, you can withdraw your money anytime you want. So the bank cannot effectively use this money to make profits themselves. But, in case of a Certificate of Deposit the bank knows that you will not withdraw the money until the stipulated deposit period, so they can effectively utilize this money to make a profit and therefore share a percentage of the same by means of a higher interest rate.
Do banks uaually offer bank cds?
Yes, most banks do offer CD's or, Certificates of Deposits. Generally Certificates of Deposits are time deposits, a certain denomination of money that you take a deposit on and that accrues interest until it is 'mature' at which time you can usually extend it, or withdraw it with the interest added. You can usually withdraw your money early but if you do, you will forfeit all or much of your interest.
If there is two names on a CD account at the bank and one dies can power of attorney take the money out?
If the power of attorney represents the deceased, no, they cannot. A power of attorney expires on the death of the grantor.
Is a bank savings account interest rate better than a CD?
No, CD rates are higher, but you cannot withdraw the funds as easily as a bank savings account.
What product makes the most money world wide?
cd cd cd
When was We Are Selling This CD for Gas Money created?
We Are Selling This CD for Gas Money was created in 2005.
