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POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

Scenario involving a deceased customer who died intestate, where the sister withdrew funds using a next of kin letter, and later the son and siblings present Letters of Administration claiming the balance, questions on personal representatives, legal documents for testate and intestate cases, and bank's position.

Question

Later Jacob Mends, Mary Mintah’s son has come together with three other siblings brandishing Letters of Administration in your face claiming that the balance should be paid to them.

(a) Who is a personal representative of a deceased customer?

(b) When a customer dies testate having appointed an Executor, what legal document would the Executor have to obtain that gives the Executor authority to administer the deceased state?

(c) In the case of (b) what if the deceased Testator failed to appoint an Executor, what legal document would the relevant persons have to obtain from the court that gives them the authority to administer the state of the deceased.

(d) Discuss the above scenario stating the bank’s position.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Liability, deceased customer, executor, Intestate, Letters of Administration, next of kin, Personal Representative, Testate
Level: Level 3

Topic: Banker/Customer Relationship, Determination of the Banker/Customer Relationship
Series: APR 2023

POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

Scenario involving a deceased customer who died intestate, where the sister withdrew funds using a next of kin letter, and later the son and siblings present Letters of Administration claiming the balance; questions on personal representatives, legal documents for testate and intestate cases, and bank's position.

Question

Later Jacob Mends, Mary Mintah’s son has come together with three other siblings brandishing Letters of Administration in your face claiming that the balance should be paid to them.

(a) Who is a personal representative of a deceased customer?

(b) When a customer dies testate having appointed an Executor, what legal document would the Executor have to obtain that gives the Executor authority to administer the deceased state?

(c) In the case of (b) what if the deceased Testaator failed to appoint an Executor, what legal document would the relevant persons have to obtain from the court that gives them the authority to administer the state of the deceased.

(d) Discuss the above scenario stating the bank’s position.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Liability, deceased customer, executor, Intestate, Letters of Administration, next of kin, Personal Representative, Testate
Level: Level 3

Topic: Bankers and Customers Relationship, Determination of the Banker/Customer Relationship, Types of Accounts Holders
Series: APR 2023

POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

Scenario involving a deceased customer who died intestate, where the sister withdrew funds using a next of kin letter, and later the son and siblings present Letters of Administration claiming the balance, questions on personal representatives, legal documents for testate and intestate cases, and bank's position.

Question

Later Jacob Mends, Mary Mintah’s son has come together with three other siblings brandishing Letters of Administration in your face claiming that the balance should be paid to them.

(a) Who is a personal representative of a deceased customer?

(b) When a customer dies testate having appointed an Executor, what legal document would the Executor have to obtain that gives the Executor authority to administer the deceased state?

(d) Discuss the above scenario stating the bank’s position.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Liability, deceased customer, executor, Intestate, Letters of Administration, next of kin, Personal Representative, Testate
Level: Level 3

Topic: Banker/Customer Relationship, Determination of the Banker/Customer Relationship
Series: APR 2023

POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

Scenario involving a deceased customer who died intestate, where the sister withdrew funds using a next of kin letter, and later the son and siblings present Letters of Administration claiming the balance; questions on personal representatives, legal documents for testate and intestate cases, and bank's position.

Question

Later Jacob Mends, Mary Mintah’s son has come together with three other siblings brandishing Letters of Administration in your face claiming that the balance should be paid to them.

(a) Who is a personal representative of a deceased customer?

(b) When a customer dies testate having appointed an Executor, what legal document would the Executor have to obtain that gives the Executor authority to administer the deceased state?

(d) Discuss the above scenario stating the bank’s position.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Liability, deceased customer, executor, Intestate, Letters of Administration, next of kin, Personal Representative, Testate
Level: Level 3

Topic: Bankers and Customers Relationship, Determination of the Banker/Customer Relationship, Types of Accounts Holders
Series: APR 2023

Question Tag: next of kin

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POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

POB-LAW-AND-PRACTICE – APRIL 2023 – L3 – Q2 – Personal Representatives and Deceased Customer Accounts

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