Estate & Trust Accounts

An Estate Account is created before someone passes away.

• True

• False

Who can access the funds in an Estate Account?

• The Beneficiaries

• The Executor/Administrator

• The next of Kin

• None of the Above

If the Decedent of the estate was not a member of the credit union, is the Executor able to open an Estate Account?

• Yes

• No

What document explains the power of an individual to act as Executor?

• Letters of Testamentary

• Death Certificate

• Letters of Administration

• IRS Notice listing the EIN

What documents are needed before opening an Estate Account?

• Death Certificate

• Letters of Testamentary or Administration

• IRS Notice listing the EIN

• CoastLife Estate Account Application and Agreement

Estate and Trust Accounts are eligible for Overdraft Protection and Overdraft Privilege.

• True

• False

A Trust Account is created after someone passes away.

• True

• False

The Grantor of the Trust must be a current member in order to open a Trust Account.

• True

• False

What documents are needed before opening a Trust Account?

• Court Approved Trustee Agreement

• IRS Notice listing the EIN

• CoastLife Certificate of Trust

• CoastLife Living Trust Account Agreement or Revocable Trust Account Agreement

A Member Account Agreement (due diligence) form is not required for Trust or Estate Accounts.

• True

• False