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What is an account successor?

April 26, 2017account Successor

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What is an account successor?

2 Answers

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An account successor is the person identified by the donor to take over the account after the donor’s death. Multiple successors can be named to an account and, depending on the donor’s wishes, the account can be split equally among the successors, or they can share the responsibilities. Successors can name future successors to take over the account in the event of their own death, essentially leaving a legacy from one generation to the next and so on.

0

Posted

An account successor is the person identified by the donor to take over the account after the donor’s death. Multiple successors can be named to an account and, depending on the donor’s wishes, the account can be split equally among the successors, or they can share the responsibilities. Successors can name future successors to take over the account in the event of their own death, essentially leaving a legacy from one generation to the next.