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Teams
Name
Score
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15
×
A beneficiary must bring in the Last Will & Testament and the original Death Certificate.
We ONLY need the Death Certificate!
Oops!
Check
Okay!
Check
15
×
An Irrevocable Trust can be changed by the grantor with an amendment.
Revocable, not irrevocable!
Oops!
Check
Okay!
Check
×
seesaw
Swap points!
Oops!
×
gold
Win 50 points!
Okay!
×
rocket
Go to first place!
Okay!
×
banana
Go to last place!
Oops!
15
×
If my Trust documents do not name a specific beneficiary, I can add a POD
FALSE! You would need an amendment, if possible.
Oops!
Check
Okay!
Check
15
×
The Indiana Bar Foundation allows doctors to open accounts with their EIN number
This is for an Interest on LAWYERS trust account, not Doctors!
Oops!
Check
Okay!
Check
×
baam
Lose 15 points!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
gift
Win 25 points!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
An IOLTA can help members qualify for Medicaid
A Qualified Income Trust (Miller Trust) can do that!
Oops!
Check
Okay!
Check
15
×
A successor trustee can be put on the account as a power of attorney
A successor can only be added if the original trustee passes or cannot perform the duties any more.
Oops!
Check
Okay!
Check
15
×
The Last Will & Testament needs to go through Probate court, because we don't want to deal with the legal hassle
We don't have the POWER to prove a Will is valid or invalid, the courts must sort it out with the "next of kin"
Oops!
Check
Okay!
Check
15
×
To open an Estate account, you need a death certificate, a fiduciary title page, and an EIN certification letter.
A fiduciary title page? Not a thing - you need Letters of Administration/Testamentary!
Oops!
Check
Okay!
Check
15
×
Because Trusts & Estates are not owned by individuals, we do not have to conduct customer due diligence
We run it as a business!
Oops!
Check
Okay!
Check
15
×
A trust is always opened with a trustee's social security number
Not always, they can be issued their own EIN!
Oops!
Check
Okay!
Check
15
×
A funeral trust can have all the same accounts as a normal membership
A funeral trust may only have a savings and certificate (after 30 days)
Oops!
Check
Okay!
Check
15
×
To open a funeral trust I need to have an IRS w-9, a death certificate, and an Interra CU Irrevocable Funeral Trust Agreement.
You won't have a death certificate yet - You need a Funeral Contract from the funeral home instead!
Oops!
Check
Okay!
Check
×
trap
No points!
Oops!
×
star
Double points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
banana
Go to last place!
Oops!
×
boom
Lose 50 points!
Oops!
×
star
Double points!
Okay!
×
shark
Other team loses 20 points!
Okay!
×
baam
Lose 15 points!
Oops!
×
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