Special Relationship Account Quick Reference
Updated Nov. 2011
The funds are on deposit for:
Responsible for funds:
Legal Documentation:
Signature:
Account Changes:
In the event of Death:
Products & Services:
Representative Payee
Guardian & Conservator
The Beneficiary. The Beneficiary
cannot transact on the account including
but not limited to: cash checks,
withdraw funds, transfer funds and
make changes to the account.
Representative Payee (title in the
Name Type field) – the authorized
signer on the account. The Rep Payee is
the only person who can manage the
funds in the account or present the check
from the Social Security Administration
to be cashed; as long as the Beneficiary
is still living. The Rep Payee cannot use
the account for personal transactions.
Award Letter from Social Security
Administration or copy of a paper check
if not direct deposit (not a Petition
Letter).
Joe Smith, Rep Payee
See a Service Pro*
of the Beneficiary:
A death certificate for the
Beneficiary is required. The
responsibilities of the Rep Payee
will cease and account will then be
converted to an Estate Account with
additional court documentation.
The Ward. The Ward cannot transact on
the account including but not limited to:
cash checks, withdraw funds, transfer
funds and make changes to the account.
Deceased Member’s Estate
Account will be titled: Estate of
(deceased individual name)
Responsible Individual (title in the
Name Type field) – the authorized
signer on the account. The Guardian or
Conservator is the only person who can
manage the funds in the account; as long
as the Ward is still living. The Guardian
or Conservator cannot use the account
for personal transactions.
Responsible Individual (title in the
Name Type field) – the authorized
signer on the account. The
Executor/Personal Rep is the only
person who can manage the funds in the
account. The Executor/Personal Rep
cannot use the account for personal
transactions.
Court Appointed Letter of Guardianship
or Conservatorship (a Petition for
Appointment of Guardianship or
Conservatorship is not acceptable).
Joe Smith, Guardian/Conservator
See a Service Pro*
of the Ward:
A death certificate for the Ward is
required. The responsibilities of the
Guardian/Conservator will cease and
account will then be converted to an
Estate Account with additional court
documentation.
Death Certificate and A Court Order
showing who has been appointed as
Executor/Personal Rep
of the Representative Payee:
A new Award Letter (not a Petition
Letter) from the Social Security
Administration naming the new
Representative Payee.
A Representative Payee account is
eligible for a draft account; a debit card
on a case-by-case basis; no VISA or
loans.
of the Guardian/Conservator:
A new Court Appointed Letter of
Guardianship or Conservatorship
(not a Petition Letter).
A Guardian or Conservator account is
eligible for a draft account; a debit card
on a case-by-case basis; no VISA or
loans.
Estate Account
Joe Smith, Executor
See a Service Pro*
An Executor account is eligible for a
draft account; but not a debit card or
loans.
*Specific documentation is required. You cannot just add and/or delete account users on this type of account. Must see a Service Pro
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Special Relationship Account Quick Reference
Updated Nov. 2011
Club or Association
Power of Attorney
The funds are on deposit for:
The club or association
The person authorizing another
individual to transact on their behalf
Responsible for funds:
The named Authorized Signer(s) (title in
the Name Type field) who are appointed
to transact on behalf of the club or
association. The Authorized Signer(s)
cannot use the account for personal
transactions.
The member(s) and/or the named Power
of Attorney (title in the Name Type
field). The POA cannot use the account
for personal transactions.
Legal Documentation:
Signature:
Account Changes:
In the event of Death:
Products & Services:
Tax ID issued in the club or associations
name and a copy of the meeting minutes
where officials were elected to represent
the entity.
No specific format
See a Service Pro*
Eligible for most products and services
unless the account must have two
signers.
Note: If a Military POA the name
record of the designated POA must be
set to expire on the date authority stops
and a comment must be placed (POA
name stops on 00/00/0000).
POA Designation – must authorize
Power of Attorney over financial
transactions
Trust Account
The named Beneficiary (ies) by the
Trustor(s) to receive the trust funds and
property once the Trustor(s) pass.
While the Trustor(s) are living:
The Trustee(s) who is named by the
Trustor(s) to manage the trust assets.
The Trustor may name himself as the
Trustee(s).
Trustor(s) Deceased:
The Successor Trustee(s) names in
the Certificate of Trust.
Certificate of Trust
Joe Smith, POA
See a Service Pro*
Power of Attorney ceases at the death of
the member who has granted authority
for another to act on their behalf.
No specific format
See a Service Pro*
of the Trustee:
A death certificate for the Trustee is
required. The responsibilities of the
Successor Trustee(s) will begin
when all Trustees pass.
No restrictions on products and services.
A POA cannot initiate and sign for a
VISA or lending if not specifically
stated in the POA agreement.
A Trust account cannot have an IRA or
Loan Plan. No POA, VISA or lending if
not specifically stated in the Certificate
of Trust. If the Trust states that all
Trustees must sign for transactions then
the use of some products and services
will be limited.
*Specific documentation is required. You cannot just add and/or delete account users on this type of account. Must see a Service Pro
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