1. Scope
This Estate Operating Deposit Account Agreement (this "Deposit Account Agreement") describes terms for a Legacywyse estate operating deposit account offered through Legacywyse financial features. Banking services are provided by Column, N.A., Member FDIC. LegacyWyse LLC is not a bank.
This Deposit Account Agreement supplements the Legacywyse Terms of Service, Privacy Policy, Financial Services Addendum, and Customer Electronic Communications Agreement.
Your deposit relationship is with Column, N.A. It is governed by the deposit account agreement, fee schedule, funds-availability disclosure, privacy notice, and other account documents provided by or on behalf of Column, N.A. in the account-opening workflow (the "Bank Documents"). This Deposit Account Agreement supplements, and does not replace, the Bank Documents. If this Deposit Account Agreement conflicts with the Bank Documents on any matter concerning the deposit account, the Bank Documents control. This Deposit Account Agreement describes Legacywyse's role and your responsibilities when using Legacywyse software to apply for, access, or manage the account.
2. FDIC Deposit Insurance
The estate operating account is a deposit account at Column, N.A., Member FDIC. Funds in the account are eligible for FDIC deposit insurance up to applicable limits (currently $250,000 per depositor, per insured bank, per ownership category) only in the event Column, N.A. fails.
LegacyWyse LLC is not a bank and is not FDIC-insured. FDIC deposit insurance protects against the failure of an FDIC-insured bank. It does not protect against the failure of LegacyWyse LLC or any other non-bank company, and it does not cover losses caused by fraud, theft, unauthorized transactions, or errors, although other protections may apply under applicable law or the Bank Documents.
FDIC insurance limits are calculated under FDIC ownership-category rules. If the estate holds other deposits at Column, N.A., those deposits may be aggregated with this account when calculating coverage limits. For more information, visit fdic.gov.
3. Account Purpose and Ownership
The estate operating account is intended for estate administration. The account should be titled in the estate's name and used only for funds and transactions related to the estate.
You may apply for or use the account only if you are legally authorized to act for the estate, such as an executor, administrator, personal representative, or other court-authorized fiduciary. You must not use the account for personal funds, personal expenses, unrelated business activity, or any purpose outside the estate administration.
4. Account Opening, Review, and Verification
Opening an account is subject to review and approval. Legacywyse, Column, N.A., and service providers may request information and documents about you, the estate, the decedent, beneficial ownership or authority where applicable, tax identification numbers, source of funds, expected activity, and other matters needed for identity verification, estate authority verification, fraud prevention, sanctions screening, compliance review, and account administration.
We or our providers may approve, deny, suspend, restrict, freeze, or close an account where permitted or required by law, provider requirements, bank policy, court order, suspected fraud, sanctions concerns, inaccurate information, missing information, prohibited activity, or risk review.
5. Taxpayer Identification and Backup Withholding
You must provide accurate taxpayer identification information for the estate and for any person whose information is requested in the account-opening workflow. You certify that taxpayer identification information you provide is correct and that you will promptly notify us if it changes or if the IRS notifies you that backup withholding applies.
6. Deposits, Transfers, and Withdrawals
Available account features may include deposits, ACH transfers, check deposits, account-number services, payouts, funding requests, transaction viewing, and other services made available in the product. Features may change over time and may be subject to limits, holds, cutoffs, review, reversals, returns, delays, network rules, and provider availability.
You may deposit only funds that belong to the estate and that you are authorized to deposit. You may make payments or withdrawals only for estate purposes and only when you are authorized to do so.
7. Funds Availability, Holds, and Returns
Deposits and transfers may not be available immediately. Funds availability may depend on the deposit method, amount, source, risk review, bank rules, payment-network rules, legal requirements, and other factors. We or our providers may place holds, reject deposits, reverse credits, return items, or delay availability where permitted by law or provider rules.
You remain responsible for returned items, duplicate deposits, unauthorized deposits, incorrect recipient information, failed transfers, reversals, chargebacks, fees, and losses caused by inaccurate information or unauthorized use unless applicable law provides otherwise.
8. Statements, Records, and Account Information
Statements, notices, transaction history, balances, account numbers, routing numbers, and account records may be provided electronically. You are responsible for reviewing account activity promptly and keeping your own estate records for fiduciary, court, tax, accounting, and distribution purposes.
Balances and transaction information may be delayed, incomplete, or subject to later correction. You should not rely on an account display as a substitute for bank records, court-required accountings, or professional accounting advice.
9. Prohibited Activity
You must not use the account for fraud, money laundering, sanctions evasion, illegal gambling, unlawful payments, personal expenses, commingling, unauthorized account access, unauthorized check deposits, duplicate check deposits, altered checks, forged checks, payments to unauthorized parties, or any transaction that violates law, court order, fiduciary duty, provider rules, bank rules, or payment-network rules.
10. Security and Unauthorized Activity
You are responsible for protecting account credentials, devices, email accounts, phone numbers, authentication factors, account numbers, routing numbers, check images, and other sensitive information.
You must promptly report suspected errors, unauthorized activity, lost credentials, incorrect recipient information, failed deposits, failed transfers, or suspicious transactions through the support or provider channels identified in the product. Nothing in this Deposit Account Agreement limits any non-waivable rights you may have under applicable law or provider terms.
11. Fees
Any fees that apply to the account or related services will be disclosed before they are charged where required by law. Third parties may charge separate fees, including court fees, bank fees, payment-network fees, check fees, wire or ACH fees, expedited-service fees, tax fees, professional fees, or other costs.
12. Account Closure and Survival
We or our providers may close, suspend, or restrict the account where permitted or required by law or provider requirements. You remain responsible for outstanding transactions, returned items, reversals, fees, recordkeeping, tax obligations, court obligations, and fiduciary obligations after closure.
13. No Professional Advice
Legacywyse does not provide legal, tax, accounting, investment, fiduciary, or financial advice. You are responsible for determining whether an estate operating account is appropriate, how estate funds should be handled, and whether professional advice or court approval is needed.
14. Contact
Questions about this Deposit Account Agreement may be sent to:
LegacyWyse LLC
3100 Monticello Ave, Suite 105
Dallas, TX 75205
Email: legal@legacywyse.com
Website: https://legacywyse.com