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The bank has been entrusted to take care of these assets. They are not going to risk breaching their fiduciary duty by making a mistake or letting an unauthorized person have access to the funds.

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11y ago

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Related Questions

What court order needed to freeze bank accounts dueto death?

Probate Courts can issue such an order, which will freeze the deceased's account(s), until the court has had time to probate the estate.


Can a bank freeze all your bank accounts?

Yes. The government can even freeze your offshore bank accounts if the money is illegal.


Can collection agencies freeze bank accounts containing social security and retirement funds?

Collection agencies can not freeze anything. Only courts can freeze bank accounts.


Does the military have the authority to freeze bank accounts?

Yes, the military can freeze bank accounts under certain circumstances, such as during investigations into financial misconduct or suspected illegal activities.


Does dept of revenue have the right to freeze bank accounts?

Yes


Can a partner freeze the bank accounts of a partnership firm?

yes


What happens if you fart on your computer?

the computer will freeze or the fan will run automatically!


Why blood freeze when it come out from body give scientific reason?

Blood does not automatically freeze when it leaves the body. It depends on the ambient temperature.


In North Carolina can a law firm representing a credit card company freeze bank accounts?

Yes, they can file a motion prior to the lawsuit and request the court freeze all accounts belonging to the debtor in most cases, even accounts which are jointly held.


Does a bridge have to be wet to freeze?

No a bridge does not need to be wet when it freezes because of the weather it is automatically cold and the only way it can freeze if you have ice or snow on the bridge


What happens to a joint bank account when the the primary is the now deceased mother and the joint account holder is a daughter and there is a will. In this case there is no will can they do anything?

Joint accounts generally include the rights to survivorship. This means the funds in the account that belonged to the deceased automatically pass to the other account holder(s). The funds are not subject to probate procedure, nor are they subject to any terms stated in a will. It is possible that an estate tax could be levied on the portion of the account belonging to the deceased, but in most cases the amount would need to be substantial for that to occur.


Can the IRS freeze your money during an audit?

Yes, the IRS can freeze your money during an audit, but this typically occurs in specific circumstances, such as when there is evidence of tax fraud or if you owe back taxes. While an audit itself does not automatically freeze funds, the IRS may place a levy on your bank accounts or other assets to secure payment. It's crucial to respond promptly to any IRS notices and seek professional advice if you're facing an audit.

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