0
If a bank customer has an individual account and they die and their will states that funds pass to a trust can the executor close the account?
Wiki User
∙ 10y ago
Yes, they can close the account. The money will then be placed as directed by the will.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What to do if executor files for an extension to show accounting of estate and years have passed and nothing is shown?
This depends on the state in which the decedent died, so those laws must be checked. However, in such a case, all states provide for going to court to get an order or judgment directing the executor to account within a certain period of time or risk being held in contempt of court, removed as executor and being stripped of his/her commissions. Some states may have more formal procedures than others to force a recalcitrant executor to file the account, but all states have some type of redress.
If the deed says you have right to survivorship and the will states differently which one is legally bound to be followed by executor?
The deed is the ruling document in this case. The property will go to that individual.
If the executor is a relative are they entitled to the executor fee?
The executor is entitled to a fee for their services. Their relationship is not a deciding factor. In many states the fee is set by law.
What are Connecticut's executor fees?
Most states have executor fees of 2-5%. Connecticut law does not state these fees, and only states what is reasonable compensation.
What are the requirements to Bond as an Executor?
It depends on the state. Not all states require an executor to post a bond and bond amounts vary by states. In any case, the bond is meant to serve as protection against fraud or embezzlement by an executor.
What if in the will it states who the executor is?
The court will issued the letters of authority to the named executor. If they decline, the court will appoint someone else.
Can an estate executor pay themselves or others?
An executor of a will may be paid for work done on the estate if the will states they are to be paid. Most states will allow expenses to be paid within reason to the executor, but they must show proof.
What is the mission statement of topshop?
Topshop's mission statement outlines its desire to be unique and diverse in its offerings, and to change to suit the needs of the customer. It also states that each customer will be treated as an individual.
Can a grandchild file for executor of a grandparents will?
In most states, any person over the age of 18 who hasn’t been convicted of a felony can be named the executor of a will.
Can an executor sell a house in pa without all the beneficaries approving if the will states the executor has the right to sell any and all property but doesn't mention the approval of all?
The executor is responsible for executing the will. The approval of the beneficiaries is not a requirement.
What if executor sues the other 2 executors over a will?
Perhaps nothing will happen, because most states provide that when there are more than one executor the majority rules except where the majority is acting contrary to the interests of the estate and beneficiaries. The executor suing will probably have to prove more than there being a difference of opinion as to what should be done during administration. Such differences might involve the choice of the bank in which the estate account should be placed. If, say, the reason for the majority's choice is ease of banking with no difference in interest rates, the court would side with the majority. If the chosen bank has a lower interest rate on the estate account the court would side with the single executor. In addition, one or more of the executors might be removed as executor depending on the facts.
How can one open an account with the Chemung Canal Trust Company?
Chemung Canal Trust Company is a banking institution in the United States. You can open an account with them by visiting one of their locations or phoning into their Customer Service phone line.
