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How do you change the name of a checking account to a special needs trust written up as part of a revocable living trust?
Wiki User
∙ 16y ago
You need to talk to the attorney that drew up your trust(s). If the special needs trust is contained with your living trust, then is it in existence now, or when you die? Check the terms. If it exists now, then there should be a name of the trust, a trustee and you should obtained a taxpayer id# from the IRS. Note that a transfer into the trust is probably a taxable gift.
This is not a DIY project. Consult your attorney.
Wiki User
∙ 16y ago
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What account charges customers fees based on the number of checks written each month?
Share draft or checking account.
What does overdraft on your checking account mean?
== == Overdraft on your checking account happens when a withdraw or check written exceeds the funds in the account. Often banks will honor the withdraw or check but then charge the account owner on the borrowed funds. Many banks will offer overdraft protection which will pull money from a different account (often a savings account, line of credit, or credit card).
Can you get out of a joint checking account?
Yes. If you want to get out of a joint account, you can contact the bank and submit a written request to be removed as a joint holder of that account. The other parties involved in the joint account have to approve your removal from the account, only then the bank will complete the formalities.
If i have 2 checking accounts and i write an nsf check on one account can the bank just take that much money out of the other account to make the nsf check right?
No they cannot. The check can only be honored with funds from the account it was written on.
Can you sue your bank for not Informing you about CD account money going to your checking account?
I dont think so. Usually while opening the CD you are asked the instructions upon maturity. If you had chosen the option of crediting your checking account then definitely you cannot sue them. In most cases, if no maturity instructions are given by the customer, the cash is deposited into his/her account. If you had provided specific maturity instructions and the bank dint follow it and instead deposited the cash to your account then you can. But before that you must give a written complaint to the bank and see what they have to say.
What has the author Turner George M written?
Turner George M. has written: 'Revocable trusts' -- subject(s): Revocable trusts, Estate planning
What account charges customers fees based on the number of checks written each month?
Share draft or checking account.
Is balancing a check book the same as balancing a checking account?
Balancing a checkbook and a checking account are one in the same. A checkbook is simply a written record of checks you've written, however you might need to reconcile your checkbook if you use your checking account for more than just handwritten checks (debit card purchases, electronic payments, etc)
What is a written order directing the bank to deduct money from your checking account to make a payment called?
a check
What does overdraft on your checking account mean?
== == Overdraft on your checking account happens when a withdraw or check written exceeds the funds in the account. Often banks will honor the withdraw or check but then charge the account owner on the borrowed funds. Many banks will offer overdraft protection which will pull money from a different account (often a savings account, line of credit, or credit card).
Can wife add her name to his checking account without his approval legally?
No she can't as a matter of fact without his written permission she can't even get general information about that account. This is what I found to be amazing, if this couple has a joint savings account, but the husband's name is the only one on the checking account, he is the only one that can legally transfer money from the savings account to the checking account. It also works this way if there is a joint checking account and money needs to be transferred from the joint checking account, to the savings account with only the husband's name on it, he is the only one that can move money from one account to the other. I am a bank manager and I know this is more information than you asked for, but when I have to explain this to couples, it often leads to a very heated discussion between them in my office. I live in Virginia and I can only answer for Virginia. I hope you found this answer helpful.
Can you get out of a joint checking account?
Yes. If you want to get out of a joint account, you can contact the bank and submit a written request to be removed as a joint holder of that account. The other parties involved in the joint account have to approve your removal from the account, only then the bank will complete the formalities.
If i have 2 checking accounts and i write an nsf check on one account can the bank just take that much money out of the other account to make the nsf check right?
No they cannot. The check can only be honored with funds from the account it was written on.
Can a credit card issuer access a personal checking account to pay an account that has been written off?
If there is a valid judgment against the account holder, the judgment creditor can levy the bank account to recover the monies owed according to the terms of the judgment and the laws of the state in which the account is held.
Why would you freeze a checking account?
The most common reasons are to keep any fraudulent checks that have been written from being deducted from the balance. Or to keep an unwanted person from accessing the account to withdraw funds.
Does a revocable trust become irrevocable upon death of grantor?
It depends upon how the trust is written. Generally, yes.
What are some fees with having a checking account?
Minimum balance fee: The money in a checking account falls below a certain level.ATM fee: The customer withdraws money from a bank machine at another bank.Teller fee: The customer goes into a bank and gets personal service.n.s.f. fee: A check is written for a larger amount than the checking account contains.
