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"In trust for" on a Certificate of Deposit (CD) indicates that the account is held in a fiduciary capacity, meaning the account owner (the trustee) manages the funds for the benefit of another person or entity (the beneficiary). This arrangement allows the trustee to manage the funds according to the terms set out in a trust agreement. It can be used for estate planning or to ensure that funds are used for specific purposes, such as education or support for a minor.
What else can I help you with?
Can a trust be named as the beneficiary of a certificate of deposit (CD)?
Yes, a trust can be named as the beneficiary of a certificate of deposit (CD).
What is the plural of certificate of deposit?
Certificates of deposit.
Can Owner of deposit certificate sell it?
No. A Deposit Certificate cannot be sold. It can only be cashed by the person who took the deposit certificate so buying it would be a bad idea because if anyone else tries to cash the deposit certificate, the bank will not pay them.
How would you use a certificate of deposit?
well first you would start the start the deposit of your certificate. I would recomend waiting so your Certificate of deposit can mature with growth. Be sure to add the exact intrest rate of your certificate and be sure to use a calculator to determine your amount of the certificate deposit
Do you have to pay taxes on a certificate of deposit?
Yes, you generally have to pay taxes on the interest earned from a certificate of deposit.
Can a trust be named as the beneficiary of a certificate of deposit (CD)?
Yes, a trust can be named as the beneficiary of a certificate of deposit (CD).
What is the plural of certificate of deposit?
Certificates of deposit.
Another name for a CD?
CD can mean: Certificate of Deposit Compact Disk Crossdresser
Can Owner of deposit certificate sell it?
No. A Deposit Certificate cannot be sold. It can only be cashed by the person who took the deposit certificate so buying it would be a bad idea because if anyone else tries to cash the deposit certificate, the bank will not pay them.
How would you use a certificate of deposit?
well first you would start the start the deposit of your certificate. I would recomend waiting so your Certificate of deposit can mature with growth. Be sure to add the exact intrest rate of your certificate and be sure to use a calculator to determine your amount of the certificate deposit
What are the dimensions of a safe deposit box?
certificate of deposit
Do you have to pay taxes on a certificate of deposit?
Yes, you generally have to pay taxes on the interest earned from a certificate of deposit.
How do you say certificate of deposit in Portuguese?
Certificate of Deposit in Portuguese is "Certificado de Depósito".
Where can you obtain a certificate of deposit?
You can obtain a certificate of deposit (CD) from banks, credit unions, and other financial institutions.
How can I give a certificate of deposit as a gift?
To give a certificate of deposit as a gift, you can visit a bank or financial institution and purchase a certificate of deposit in the recipient's name. You can then present the certificate to them as a gift, along with any necessary documentation for them to access the funds when the CD matures.
What is a bank CD?
A CD refers to a Certificate of Deposit. It is a certificate given to you by a bank for depositing cash with them. They would pay you an interest for having the deposit with them.
Is a certificate of deposit debited or credited?
Certificate of deposit is a current asset account and that's why it has a debit balance as a normal balance.
