Banking Is Legal

Final Research Paper: Banking is Legal In my authoritative fictitious character as a depose monetary fund manager I embark on to suck primary m either reasoned situations. As bankers, we abide by our banking policies and procedures, and inadvertence to our legal department. Most clock we give our customers advice to seek legal consultation, because of phase, we are not lawyers. This course Essentials of Business Law has caused to me to olfactory sensation at what the legal advice would be and what the law has to say in these situations. In this paper, I forget discuss three opposite scenarios that are commonly seen in retail banking and what the legal issues are involved as swell as the ethical affection of these scenarios. The three scenarios are a someone has become decedent soulfulness, a person requires an agent, and someone has committed fraud. One of the close pain-staking requests that a banker can receive at a bank is that the customer is re questing to close accounts because someone has passed away. at that place a lot of issues that we as bankers allow have to credit in order to properly disperse monies to the correct party. We frequently see the adult sons and or daughters coming in wanting(p) to claim whatsoever funds. The easiest way to alleviate the dilemma of decision making who the capital goes to, is to have a beneficiary on verbalize accounts.

The beneficiary or designated POD (payable on death) will replace any will or trust. It is specified that despite what is depict in a will or trust that the decedent wants those unique(predicate) funds for the designated beneficiary. Our text defines a will as, A persons declaration of how he or ! she wishes lieu to be distributed upon his or her death. (Liuzzo, 2010, p. 377). Most times this is not the episode and the deceased does not have any beneficiary. The testator, or the person that makes the will (Liuzzo, 2010, p. 377), names a personal representative which is likewise called the executor of the estate. This account then needs to be taken to a prorogue court where the personal representative is...If you want to get a full essay, order it on our website: OrderEssay.net

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