Philadelphia Cnty. C.P. CP-Orphans' Division Rule 5.6A

(1) Waiver of Security. In lieu of the entry of security, the Court, in the decree

appointing the guardian, may authorize the guardian to deposit the funds of the

minor in an interest-bearing account or certificate of deposit in a bank with an

office located in Philadelphia County in an amount not to exceed the insured

amount; subject to the express restriction, to be noted on the records of the

institution, that no withdrawals shall be made therefrom without order of Court.

Proof of deposit evidencing the restriction shall be electronically filed with the

Court within sixty (60) days.

(2) Limitation. An account or certificate of deposit under this Rule shall not

exceed the amount which is fully insured by the Federal Savings and Loan

Insurance Corporation or the Federal Deposit Insurance Corporation.

(3) Additional Assets. When the guardian has received assets in addition to the

deposit or investment made in accordance with this Rule, the guardian shall

account as if the restricted account did not form part of the estate.

(4) A depository in which a guardian of the estate of a minor has deposited the

funds in a restricted savings account or certificate of deposit pursuant to Court

order is authorized to release sufficient funds therefrom to pay income taxes

levied by the state or federal government upon said minor’s estate upon the

signature of the guardian without Court approval.