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This week our material focuses on Multi-Party Accounts, and the reading is attached. 1. Please read the material and identify and describe 4 types of
This week our material focuses on Multi-Party Accounts, and the reading is attached. 1. Please read the material and identify and describe 4 types of multiple-party accounts. Be sure to indicate whether each account type has survivorship benefits associated with it. 2. Sam travels to Paris regularly for business. Sam's main office is located in Pittsburgh, PA. Molly manages the business affairs in the main office and is named on the business account with authority to make deposits and write checks to pay business expenses. The paperwork to set up the business accountt names Molly to make deposits and pay business expenses, but she has no benefit to the account in any other way. What type of account is this? 3. Alex has an account set up that will automatically transfer the balance to his daughter, Hope, upon his death. What type of account is this? 4. Caleb has set up an account to pay for educational expenses of his nephew, Wes. The account is titled "The Educational Trust Fund for Wesley Chap." What type of account is this? 5. Tim and Susie have an account in which they both make deposits and each have complete access to withdraw funds
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