How do I add Power of Attorney on my clients account?

Zach Gould2024-09-16T16:01:45-04:00September 16, 2024|

I am opening a UTMA account, do I put the minor’s information on the Client Profile Form?

Zach Gould2024-09-16T16:01:46-04:00September 16, 2024|

I am opening a Trust Account, do I put the Trust information on the Client Profile Form or the TTEEs information?

Zach Gould2024-09-16T16:01:46-04:00September 16, 2024|

I have a Trust account and one of the TTEEs died, what do I need to do?

Zach Gould2024-09-16T16:01:46-04:00September 16, 2024|

Question – My client passed away, what forms do I need to distribute their IRA account?

Zach Gould2024-09-16T16:01:46-04:00September 16, 2024|

Where can I see if I have an Asset Movement for my client?

Zach Gould2024-09-16T16:01:46-04:00September 16, 2024|

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Q: How do I add Power of Attorney on my clients account?

We will need the NFS Durable Power of Attorney form and a copy of the Legal Power of Attorney document.

Q: I am opening a UTMA account, do I put the minor’s information on the Client Profile Form?

Yes. Even though the client is a minor their information is required on the CPF. Primary will be custodian information and minor will be secondary . Suitability information and financials will be based off the custodian information and the custodian will sign the CPF. Minors can not sign forms.

Q: I am opening a Trust Account, do I put the Trust information on the Client Profile Form or the TTEEs information?

If the Trust is being opened under the Social Security Number of one of the TTEEs then the CPF should have the TTEEs information and as Owners and the Trust Information under Entity Owner If the Trust has a TIN then the CPF should be for the Trust only

Q: I have a Trust account and one of the TTEEs died, what do I need to do?

If the Trust is reporting under the deceased social security number, Successor TTEE(s) will need to apply for a TIN and open a new Trust account. Proof of successor TTEE must be on file if not a copy of the Trust Agreement must be provided showing the Successor TTEE(s) along with a copy of the death certificate and journal request. If the Trust already has a TIN, New Trust Certification of Investment Powers (TCIP) is required, a copy of the Death Certificate and Trust Agreement showing Successor TTEE (if not already on file)

Q: Question – My client passed away, what forms do I need to distribute their IRA account?

If the Primary Beneficiary of the deceased account is the spouse and the spouse already has an existing IRA account, then all that is needed is the IRA Transfer Request for Spouse Beneficiary and a copy of the death certificate If the Primary Beneficiary is not the deceased spouse, then the Beneficiary(s) will need to open new IRA BDA accounts. This will require all new paperwork and a copy of the death certificate. NOTE : If the deceased account holds Church Bonds, a journal request splitting the church bonds in par (lots of 1000) will be required. If the account does not have Church Bonds, National will distribute the account per the information on file.

Q: Where can I see if I have an Asset Movement for my client?

You can see this in Wealthscape – Service – Money Movement – Integrated Cashiering Platform (Asset Mvmt Auth LVL)

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FAQs

How do I add Power of Attorney on my clients account?

I am opening a UTMA account, do I put the minor’s information on the Client Profile Form?

I am opening a Trust Account, do I put the Trust information on the Client Profile Form or the TTEEs information?

I have a Trust account and one of the TTEEs died, what do I need to do?

Question – My client passed away, what forms do I need to distribute their IRA account?

Where can I see if I have an Asset Movement for my client?

Contact Us Today!

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