Joint Owners
True or False: A POA can add themselves as a joint owner?
FALSE. The joint ownership role is not valid.
What amount of assets are required for probate to be filed in ID?
Over $100,000
Can a Small Estate Affidavit be filled out if someone else in the family is filing probate?
NO
How do we split funds if there are multiple POD's?
Equally!
Paul passed away on 07/01, his wife Stella is a valid JO on all of his deposit accounts. However, Paul does have a Visa with a $5,500 balance. What would we do to mitigate loss?
We would inform Stella that Paul did have a debt with us and that the funds in the joint accounts would be used towards that debt.
What type of accounts do NOT get put into probate finder?
Real Property- Mortgages and HELOCS
A member who was an Idaho resident passed away in Washington. A family member presents a Washington death certificate. When can the SEA be completed?
30 days
Where should we look to find who the POD's are on an account?
OnBase, POD designation form and check the signature card.
Charles passed away on 05/25/25. You have Joey the joint owner and Sue the POD in branch to collect funds. Who has first rights to the money?
Joey- He is the JO
What is a common indicator that probate will need to be filed?
The presence of a Mortgage/HELOC
True or False: Small Estate Affidavits should be used as a last resort?
TRUE! We always want to evaluate the accounts for living JO's, POD's, and inquire about if the family will be filing probate before offering an SEA.
What is needed from a POD in order to release funds?
Their Photo ID and a Certified Death Certificate
When can we swap roles on an account?
In spousal situations only, we cannot swap roles on CD's!
Any creditor who wishes to make a claim on assets of the estate must do so within ____ months in Idaho.
4 Months
How long do we typically try to give family members to figure out how to handle a collateralized loan?
90 Days
Paul passes away with a total of $55,860 in his accounts. He has no joint owners, three PODs, and a Credit Card with a balance of $325.64 (no life insurance coverage). The three PODs come in with the Death Certificate to collect their portions. How much does each POD receive?
$18,511.45