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Can the named account holder with a named trustee freeze the account?
Wiki User
∙ 11y ago
Yes he can. He doesnt only have the power to do so he can migrate your testicles to his vagina if he wants to
Wiki User
∙ 11y ago
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What checks can be deposited into an estate bank account?
Checks made payable to the Estate, or to the Trustee of the Estate in their capacity as Trustee, and/or to the individual for whom the Estate is named.
Who is responsible for credit card debt when some dies in PA?
The person(s) named as the account holder. If the account was held jointly then the surviving account holder is responsible for the debt. If the decedent was the sole account holder the debt becomes a part of his or her estate and is handled according to probate laws.
What is the difference between opening a trust account for a minor and a custodial account?
A tust is a fiduciary relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. A trust can be setup for a trustee of any age, and that age can be specified by the trustor. A custodial account is managed by an adult for a client who is considered a minor age 18-21 years old. Once the client reaches the legal age of their state of residence the account is taken over by the named account holder.
In Georgia can a judgment creditor take money from your bank account?
Yes. A bank account can be levied by the judgment creditor even if the account is jointly held. If the account is joint and only one of the account holder's is the named judgment debtor, the non debtor account holder must submit proof to the court as to the amount of funds belonging to them in order to protect those funds from being seized. When it concerns such joint account the court will generally freeze the account and allow the non debtor a specified amount of time to claim his or her exempt funds that are in the account.
If your husband was his deceased father's bank account nominee how do you recover the account funds?
If the named person is not a joint account holder with rights of survivorship the bank account monies will become the property of the probate court and be distributed according to succession law of the state where account holder resided at the time of his or her death.
Can a second cousin be a trustee?
Certainly, any reliable person can be named a trustee.
I have a joint bank account with my mom she was garnished but is decease. i deposit a large sum of money and her debt was withdrawn. how do I get my money deposit back?
If the first-named holder dies, the second-named holder will automatically become the new first-named holder unless we are informed otherwise when we receive notification of the death. More information visit http://www.barclays.com/internationalpersonal/docs/further_details_for_joint_account_holders.pdf If your name was never on the bank account, you will have to hire a lawyer to get your deposit money back.
Can you put your real property in the name of a minor as a trustee of a trust?
No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.No. You must have a trust drafted by an attorney who specializes in trust law. The minor will be named the beneficiary of the trust, an adult trustee will be named in the trust and the property should be transferred to that trustee to hold for the benefit of the child. A minor cannot serve as a trustee.
Can you refuse to be a trustee?
Yes, you can refuse to be a trustee. If you choose to decline the responsibility, you should formally communicate your decision to the relevant parties involved in the trust to ensure they can make alternative arrangements. It is important to consider the legal and financial implications of declining the role before making a decision.
Can a collection agency freeze your bank account in New Mexico?
Before an individual's bank account can be levied he or she must be sued by the creditor. If the creditor wins the suit (they almost always will) a judgment will be awarded and the judgment can then be used as a bank account levy. Bank accounts are 'frozen' by the court when the account is jointly held and only one account holder is named as the judgment debtor. This action allows the non debtor to provide proof as to the amount of funds belonging to them.
Can a credit card company levy a bank accoun that is has Tenancy by the Entirety protection?
Not if only one of the account holders is the named debtor. However to protect such an account the non debtor account holder must notify the court, protection from levy of such an account is not "automatic".
Can your bank account be garnished without your prior knowledge?
Yes. The banking institution does not know an account is subject to levy/garnishment until the order is served. In a few instances the account holder will have minimal notification (24 hrs). However, once the order is served no action can be taken by the account holder to protect the funds. An exception in some cases is a joint account where only one person is the named judgment debtor and/or an account contains funds that are exempted under state or federal law. If such is the case the account will be 'frozen' until it can be determined what percentage of the funds belong to each account holder.
