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mother's account. They said it had to go into an estate account. I'm not really sure what that is, or what it's for. Can you explain this to me?
October 16, 2015 06:05:51 PM
In reply to John, Holliston
Good evening John,
Thank you for reaching out to us tonight and please accept our heartfelt condolences for your family's loss.
We apologize for any trouble or confusion with the check you received and in trying to make this deposit. In most cases, checks can only be deposited to an account naming both parties on the check. This is more than likely the reason that you were unable to make the deposit as you expected, as funds made payable to an estate would have to be deposited to an estate account.
To answer your question, an estate account is used to hold and manage the funds of a deceased person. These can be opened by the Executor, Administrator or Personal Representative of that person's estate.
If your family is in need of an estate account, the Executor or Administrator can provide the following documentations to a TD Bank Store to open one: Photo identification, Copy of the Death Certificate, and an original Certificate of Letters Testamentary or Letters of Administration with raised seal dated within 60 days, and a Letter of Instructions signed by all the Executors or Administrators with signature guaranteed by another financial institution. The death certificate will provide date of death if the date-of-death balance for the account is requested.
Please keep in mind that these documents do vary by State. Therefore, we recommend you call your preferred TD Bank Store to speak with a Representative about what may be needed, prior to visiting. For locations, hours and contact information, you can visit, http://bit.ly/TDStores.
We hope this clarifies your question a bit, John.
We wish you and your family the best during this time and take care.
Kristen P, Mount Laurel
October 16, 2015 06:08:18 PM