NOTIFICATION
We must wait to have Date of Death to have an estate file created
No. An Estate File can be created without knowing the Date of Death
What comes after the Define Successor or Beneficiary for Registered Accounts screen in the Estate Interview?
View Transaction History Page
What what type of restraint message is added to a Sole PDA once we are notified of passing?
Deceased - Message 51
Joint IA two people with right of survivorship - we must have payout completed
Incorrect. Options are Payout, Ownership Change, Re-Registered, Transferred to another IA.
RBC will issue a draft for funeral expenses despite having an outstanding balance on a Sole Owned RCL?
Not always. Sole RBC debt must be addressed before any funds are provided for Funeral Expenses and comments on EF are required.
Only an Executor can advise RBC of client's passing
Incorrect. We will take notification from any source
Client passed Intestate. What is the Role of the Informal Executor in Contacts tab?
Other
How long does the Payee Verification - Message 21 remain on Joint PDAs outside of Quebec?
40 Business Days
If closed prior to maturity, this type of GIC will only payout the principal
RBC MarketSmart GIC
As an Executor (outside of Quebec), you are personally liable for the debt of the estate.
No. As executor, your due diligence is to use all funds of the estate to pay off or down the debt.
Items to be advised to bring to branch when booking initial Estate Appointment.
POD, WILL, probate if obtained already, ID
Waiver of Probate flag must be on the Estate File any time a DOT 586 or ICN is completed.
Correct
Are Credits Processed During Year of Death acceptable?
No, only during month of passing
TFSA with 5 benes. Holdings are in mutual funds. We can provide Executor with option to switch holdings to lower risk
No. Switch to lower risk is only an option for registered plans without beneficiaries or sole IAs with MF holdings
Points can be redeemed on a joint Visa card by having the executor sign our LOD
No. ECE will redeem points with EXEC signature on LOD only for sole Visa cards.
Notifier is also Joint Holder of a PDA. Can they obtain an account balance of the PDA at time of notification?
Identification is NOT completed on the notifier, whether they are RBC clients or not, as there will not be any information about the deceased disclosed to the notifier. They can be transferred/referred to other lines of business or resources.
There are various flags an EMS file can have. Name any 4.
all 9 are
Foreign Estate
Private Banking
Escalated
Aboriginal Affairs
Royal Trust
Dispute
PG
Minor
Waiver of Probate
Estate PDA can be opened at Executor's request whenever they have an estate cheque to cash
No. Probate or equivalent must be provided or in the process of being applied for
RIF Successor named. Successor has now subsequently passed the plan holder. What is the settlement advice?
Name change on LOD signed by Successor's Executor and then paid out to the Successor's estate on a DOT
What is the temporary amount we can provide on an RCL or HLPRCLP and for what duration if conditions are met?
$20,000 for 60 days from request date