Compliance Question of the Week
September 24, 2013
Sept. 24, 2013
Can a business account have a designated beneficiary?
It is generally not a good idea to allow a beneficiary on a business account since businesses technically do not die. What happens to funds in a business account after the death of an individual should be addressed elsewhere in business documents and/or in a will.
Questions? Contact the Compliance Hotline: 1.800.546.4465, firstname.lastname@example.org.
Posted in Compliance News.