Texas Banking Questions & Answers

Q: USAA HAS LOST ORIGINAL JTWROS SIGNATURE CARDS FOR PARENTS LARGE ACCOUNTS

2 Answers | Asked in Banking and Probate for Texas on
Answered on Feb 21, 2019
Ben F Meek III's answer
This is a fact intensive issue that will turn on the evidence you can gather to show that her intent was to name you as TOD beneficiary. Gather every document that has to do with their dealings with USAA, their financial advisor, banks, brokerages, etc., and anyone else in the chain of communication. Much of it may be electronic. Your lawyer can help with that. Contact an experienced probate litigator as soon as possible. Good luck.

Q: Do minors need to pay income tax?

1 Answer | Asked in Banking and Tax Law for Texas on
Answered on Feb 19, 2019
D. Mathew Blackburn's answer
Yes, if you have $400 or more of self-employment income you'll need to file a 1040.

How much income you have will determine whether your parents can still claim you as a dependant.

There is a difference between royalties from music and Self-employed Independent contractor income so make sure the contract and the tax docs match. Also, the filing requirement for royalties is higher than for SE income. But you also have the kiddie tax to deal with if it's royalties.

This...

Q: How do I get defense from electronic harrasment from organized criminals using electromagnetism

2 Answers | Asked in Banking, Civil Litigation, Criminal Law and Federal Crimes for Texas on
Answered on Jan 28, 2019
Kiele Linroth Pace's answer
A "Faraday cage" can shield against unwanted electromagnetic intrusion but that is a discussion for a science and physics forum.

Q: My question is my ex-business partner and I before our business got going good we opened a mutual personal bank acct.

1 Answer | Asked in Banking and Personal Injury for Texas on
Answered on Jan 15, 2019
Daniel John Christensen's answer
I am so sorry to hear about this happening to you. While this is not the type of law we practice, I would encourage you to contact the State Bar Lawyer Referral Service and ask for a business litigation attorney. Good luck.

Q: is There any type of legal document or court order to make my wife or Chase Bank transfer house money to my account

2 Answers | Asked in Banking and Divorce for Texas on
Answered on Jan 12, 2019
Rahlita D. Thornton's answer
I’ll assume the home was purchased after marriage. In that case it is community property regardless of whether your name is on the loan. If you are now pursuing a divorce you can ask that these funds not be used until everything is sorted out. Let us know if you need our help. 888/343-4529 or 888/3434LAW.

Q: A district attorney sent my bank a legal order for my bank records. What should I do?

1 Answer | Asked in Banking, Criminal Law, Legal Malpractice and Small Claims for Texas on
Answered on Jul 30, 2018
Grant St Julian III's answer
If a DA is requesting your bank records, you MAY be facing HUGE issues. Call a local attorney ASAP

Q: Re: Power of Attorney for a parent. My mother had accounts/investments with a local bank. Some of the accounts had

1 Answer | Asked in Banking and Probate for Texas on
Answered on Apr 23, 2018
Terry Lynn Garrett's answer
It depends on whether the accounts were convenience accounts (children's signatures for the mother's convenience only but all her money), pay-on-death accounts (pay on death to the children but all the mother's money) or joint accounts (jointly owned by the people named, whether or not joint with right of survivorship on the death of someone else named).

Please also note the the mother's Durable Power of Attorney loses its legal effect with her death.

Q: I am using cryptocurrency investment profit for closing costs. They dont accept it.

1 Answer | Asked in Banking, Business Law and Real Estate Law for Texas on
Answered on Apr 20, 2018
Benton R Patterson III's answer
In Texas, businesses do not have to accept cryptocurrency as payment. Your best bet is probably to sell the cryptocurrency for US dollars and transfer the money to a standard bank account.

Q: My friend and I want to open a join business account. We will be opening it with a DBA but I'm concerned about banking

1 Answer | Asked in Banking, Business Formation and Business Law for Texas on
Answered on Apr 20, 2018
Benton R Patterson III's answer
Generally, a contract is only binding on the parties who sign the contract. If the bank is not a party to the contract, it does not have to follow it. You and your business partner can contractually agree to limit the money each of you can withdraw from the account. However, you would not be able to enforce the contract against the bank because the bank is not a party to the contract.

Q: In a trust, that states "trustee may consider other income but not her capital resources". Is a distribution capital?

1 Answer | Asked in Banking and Estate Planning for Texas on
Answered on Dec 13, 2017
Terry Lynn Garrett's answer
One would have to examine the trust instrument to make sure but usually "capital" refers to "principal" as opposed to "interest" or "assets" as opposed to

"income." If the beneficiary is receiving a distribution from another trust, that is income.

Q: In a joint bank account, does a spouse have legal rights to utilize SSDI Representative Payee benefits? Why or why not?

1 Answer | Asked in Banking, Family Law and Social Security for Texas on
Answered on Oct 31, 2017
Tammy Lyn Wincott's answer
Your question is answered in the law you listed above. Contact SS for further information if still unsure.

Q: Can I use my checking account for providing Escrow Services? If not, how can I go about it?

1 Answer | Asked in Criminal Law, Banking, Stockbroker Fraud and Real Estate Law for Texas on
Answered on Oct 31, 2017
Tammy Lyn Wincott's answer
I think you should be very careful as this sounds like a typical scam. Do not use your personal checking account.

Q: How much is a declaration? Of heir in texas and is it able to be deducted from a settlement with the comptroller?

1 Answer | Asked in Banking, Energy, Oil and Gas, Probate and Securities Law for Texas on
Answered on Oct 11, 2017
Tammy Lyn Wincott's answer
I suggest you have an in-person consultation with an attorney. It's a time-consuming job to review all the appropriate facts and advise you accordingly; therefore, you will probably be charged for the consultation.

Q: My sister is on checking account of my mother. She says Mother can not remove her. She takes all the money out and gives

1 Answer | Asked in Banking and Probate for Texas on
Answered on Sep 25, 2017
Terry Lynn Garrett's answer
If your sister is a convenience signer, your mother can remove her. If the account is joint with right of survivorship, your mother can take out the money and open a separate account.

A Will means nothing until it is accepted by a Court for probate. If your mother wants to make a new Will, she can. If she does not want to, she can. Either way, during her lifetime, you have no "right" to see the Will.

Q: Is Affidavit of Heirship form off TX comptroller website sufficient to close fathers bank account?

1 Answer | Asked in Banking, Family Law and Probate for Texas on
Answered on Jul 11, 2017
Tammy Lyn Wincott's answer
The Texas estate's code has the definition of who is considered adopted. I suggest reviewing it or consulting with a probate attorney.

Q: My grand mother passed away and still had money in her bank account and her daugther my passed how can i get the money

1 Answer | Asked in Banking, Consumer Law and Probate for Texas on
Answered on Apr 4, 2017
Tammy Lyn Wincott's answer
I'm sorry about the loss of your grandmother and mother. I suggest consulting with a probate attorney near you as they can review the personal details and advise you of your options. Many will offer a free consultation and then you can pursue whichever avenue best suits your needs.

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