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Accuracy in all our work! -Trust & Estate Review
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Because Trusts & Estates are not owned by individuals, we do not have to conduct customer due diligence
We run it as a business!
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"
When closing a Trust Account, I need to make the check payable to the beneficiary
STOP! We call Account Support before closing any Trust accounts!
The Indiana Bar Foundation allows doctors to open accounts with their EIN number
This is for an Interest on LAWYERS trust account, not Doctors!
An IOLTA can help members qualify for Medicaid
A Qualified Income Trust (Miller Trust) can do that!
You need the Certificate of Compliance from the funeral home in order to close a Funeral Trust
......and the death certificate!
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)
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!
Account Support can answer any questions about Trusts & Estates
That's actually true!
You must make copies of the entire trust document.
Too much work! You can have the Certificate of Trust instead!
If my Trust documents do not name a specific beneficiary, I can add a POD
FALSE! You would need an amendment, if possible.
A trust is always opened with a trustee's social security number
Not always, they can be issued their own EIN!
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.
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!
A beneficiary must bring in the Last Will & Testament and the original Death Certificate.
We ONLY need the Death Certificate!
An Irrevocable Trust can be changed by the grantor with an amendment.
Revocable, not irrevocable!


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