My mother, aged 91, passed away a month ago. My father is deceased. As her only child, I am listed as beneficiary on all of her bank accounts and annunities. She had no life insurance. The house is held jointly in our names with right of surviorship; we have lived together in this house in New Jersey for over 20 years. I am the executrix of her will and also held her durable power of attorney. Other than her grave marker, I believe I have paid all of the bills related to her death and her last illness. I also believe she received all of the tax rebates/refunds due her from her 2007 taxes. I will file the 2008 tax return on her behalf. Her will has been probated already.

The bank where she had her working checking account (it is joint, in both our names) wants to establish an "estate account" in my mother's name. Since I am the only beneficiary and have no funds to distribute, I can't see the benefit of this account. As far as I can tell with the establishment of this account in 2008, I will have to file income tax returns for my mother as an individual AND a return for her estate. Am I missing something? In my particular case, is there an advantage to having an estate account?
Thanks for your help.

Ava

Did the bank say why they wanted to create such an account? It sounds to me like its just a form of CYA from their end. The " estate " has been probated and distribution is taking place. There is no real reason for it at this time since it has passed probate.