View Full Version : How do I set up an estate account?
creativejoy
May 12, 2008, 10:33 AM
I was the power of attorney for my aunt, who recently died. The nursing home sent me a check in the name of her estate. I need to pay some bills that are due in there name. Where do I go first?
ScottGem
May 12, 2008, 10:58 AM
Your power of attorney ceased to exist upon her death. You need to be declared the executor of her estate. As executor you can open up an estate account at your bank.
robertva
May 12, 2008, 11:09 AM
The executor of your aunt's estate needs to get certified by the local court that supervises estates and trusts (name may vary). If your aunt had a will prepared and notarized the executor should be identified in its text. The court may expect the executor to conduct and document the estate's business transactions including any debts, assets received, funeral arrangements and distributing inheritances.
Fr_Chuck
May 12, 2008, 03:10 PM
Yes, the issue now is as note, the Power of Attorney ended upon her death, so who is the next of kin, was there a will that named the executor, if not the court has to appoint someone.
But to open the account you provide the bank proof that you are the executor and normally a EIN number from the IRS for the account