A customer can produce this document to enable another party to sign on their behalf
What is POA, non-tax signer
100
Process by which a will is proven to be valid by executing the last will of the decedent.
What is Probate
100
An appointment by the court to take care of and manage the property of a person who does not have the capacity to do so and may be a minor?
What is Guardianship account
100
The item given upon death
What is death certificate
100
A POA brings in a POA agreement for your customer dated from 1974. They'd like to add themselves to the account
What is shouldn't. Based on the date, no customer present, there would be a concern for the validity of the document
200
This is a role in DNA where the funds go to someone designated by the owner of the account upon the owner(s) death
What is beneficiary
200
The general term used to imply someone can exercise rights or powers for the benefit of others
What is fiduciary
200
Legal relationship between a person and one or more individuals appointed by the court to make decisions on behalf of the person. It may be limited to the management of the property and financial affairs of a protected person (CT does not allow Minors)
What is Conservatorship account
200
In the event no will has been created an administrator is issued by the court.
What is Letter of administration
200
A customer came in requesting that we witness a will
What is shoudn't. It is bank policy not to witness a will. We are not qualified to determine if a customer is of sound mind.
300
The number of custodians allowed on a custodian account
What is One
300
An amendment to a will
What is codicil
300
An account set up for a minor
What is Custodian account
300
The pages needed when opening an Irrevocable Trust
What is
Title and tax id of the trust
Roles of the trust including: trustee(s) and grantor(s) etc.
Authority or powers of that trustee(s) and/or grantor(s) etc. listed
Signatures of the trustee(s) and grantor(s) etc.
300
Your customer comes in and presents a document that requires a notary. The wife is present and has not signed the document. The husband had already signed the document.
What is shouldn't. As a notary you have the obligation to identify the customer and the signature based on them being present.
400
The correct way an estate account should be titled on DNA
What is "Estate of John Doe" unless legal documents refer differently
400
The person responsible for the administration of a trust
What is trustee
400
This type of account names a beneficiary
What is POD account
400
The document issued by the local court that identifies the person as the legal executor of an estate.
What is Letter of testamentary aka Letter of Administration or Letter of Representation or Letter of Appointment.
400
A minor is asking for balance information on their custodian account.
What is shouldn't. Balance information cannot be given to the minor and the funds cannot be released to them without court order or the custodian closing out the account and releasing funds to them.
500
The ownership type for Memorial Funds
What is single
500
Turns the trust property over to the named beneficiaries after the creator of the trust/trustee dies
What is successor trustee
500
Funds being set up on behalf of a victim or specified purpose
What is Memorial Account
500
If a resident of Rhode Island dies leaving an estate consisting entirely of personal property the total value of which does not exceed fifteen thousand dollars ($15,000).
What is Voluntary Probate Document
500
A customer comes in to add a joint owner to their trust account.
What is shouldn't. Unless the person to be added has been designated a role in the trust agreement they cannot have a role on the account.