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No. You cannot "sue" an account. You need to sue the trustee of the account. A trustee is the human representative of a trust who can act for the trust and accept service for the trust. It can be a complicated process and you may want to consult with an attorney who can review your situation and explain your options.
What else can I help you with?
If you have a living trust and a umbrella insurance policy can the trust be sued.?
If you have a living trusts and an umbrella insurance policy can the trust be sued in an auto accident.
What happens when a trustee steals money from a trust account?
They have breached their fiduciary duties as a trustee. They can be brought up on a number of criminal charges or sued in civil court.
If you have a joint account with a person that is sued can they come after your other accounts?
No. They can only go after the assets of the person that is being sued. If you have a joint account with that person that is part of the other person's assets. Any account that is just in your name is safe as you are not the person being sued.
What is a trust banking account?
What is an in trust for (ITF) account?
What is the difference between a trust and a checking account?
a trust account means you trust the person that is opening the account, and a checking account means you will keep checking it to make everything is okay.
Can a person who has power of attorney over a trust account change that account into a joint account?
no In order to change the account you must be the Grantor of the Trust.
How cash check payable to trust?
I am fairly certain that the simple answer is, "You cannot." You must first deposit the check into the Trust Account and then disperse funds from the Trust Account via writing a check from the Trust Account. Obviously only persons authorized to transact the Trust's business may write checks off of the Trust Account. By doing this, the audit trail or "paper trail" of the Trust Account remains intact.
Where can I open a trust account?
You can open a trust account at a bank or financial institution that offers trust services. These institutions have specialized departments that can help you set up and manage a trust account for your specific needs.
Can I open a trust account online?
Yes, you can open a trust account online through many financial institutions and trust companies.
Can a family trust be sued?
Yes, a family trust can be sued, but the process and implications depend on the trust's structure and the jurisdiction's laws. Generally, the trust itself can be a party in legal proceedings, and claims can be made against the assets held in the trust. However, the trustees are typically responsible for managing the trust and may be held liable for their actions or decisions. It's important to consult with a legal professional for specific guidance related to any particular trust situation.
What is sued to collect account for cash collections into the accounting system?
DD 1131
How do you enter a trust account on pastel?
To enter a trust account in Pastel, first navigate to the "Setup" menu and select "Bank Accounts." Then, choose "Add" to create a new bank account and specify the account type as a trust account. Fill in the necessary details such as account name, number, and relevant information, ensuring to mark it as a trust account. Finally, save the changes to complete the setup.
