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I live in california and I need to open an estate account…

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I live in california and...
I live in california and I need to open an estate account for my father's estate. It will require two signatures and all of the banks I've contacted do not offer this service due to a liability issue. Are there any banks left that offer this service?
Submitted: 2 years ago.Category: Finance
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Answered in 8 minutes by:
2/29/2016
Financial Professional: Stephen G., Sr Financial Expert replied 2 years ago
Stephen G.
Stephen G., Sr Financial Expert
Category: Finance
Satisfied Customers: 7,473
Experience: Extensive Experience with Tax, Financial & Estate Issues
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Have you tried to open a business checking account at a major bank such as Bank of America?

Why do you need two signatures?

How about an account for the estate where either one of the Co-Executors or Administrators can sign & leave the

policing up to each other in that you agree to only make disbursements that you both approve. That could be done

by making a list of the disbursements before they are released and have both parties sign indicating approval to make the disbursements by check. In other words you have a voucher type system where you have to have that signed before either party issues a check. This is something you should be able to control internally if you can't open that type of account in a convenient bank. Normally banks will do that for business accounts.

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Financial Professional: Stephen G., Sr Financial Expert replied 2 years ago

Do you have any additional follow-up questions?

If not, please remember to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.

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