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missmymom
Apr 24, 2007, 07:11 PM
My brother and I are the administrators of my mothers estate. We had to probate the estate and opened a bank account. Instead of paying every bill out of the estate with a check, we withdrew the money and made the payments ourselves. Also, I got out money to keep aside to pay bills in case my brother goes to jail. I am worried that I will be in trouble for having money taken out of the estate with not all of it accounted for. I do not recall where I threw receipts or anything like that.
My question is, we are the account holders, but are we going to be in trouble for taking money out and not having it all accounted for, even though it went towards my mothers interest.?
We didn't use this for personal use, it was used for her interest... however, there are a lot of receipts missing from the move and shuffling things around.
I know that we'll just have to pay taxes on the money that is not accounted for as apposed to if we have receipts, its considered a "write off" and taxes don't have to be paid. Is this the worse that can happen?

Fr_Chuck
Apr 24, 2007, 07:25 PM
I will hope you have kept reciepts (very good ones) if someone, another relation, or someone with a claim to the estae, like a creditor who may be owed, if they demand you account for all of the money, will both of you have reciepts to show you used this money property, You pay for everyhting out of the estate account, it is not your own private money store until the estate is finished and you distribuate the funds to the people ( including yourself) it is suppose to go to. If you can't prove every debt you paid with this money, you will have to pay it back

So if you can't account for every penny, someone could expect you to pay it back out of your own money when the estate is settled.

RichardBondMan
Apr 24, 2007, 07:26 PM
First, who are the heirs ? You and your brother or is anyone else an heir to your mother's estate ? You can tell by the Will shw wrote or if there is no will and she died "intestate" or without a written will, then you need to know the laws of your State that outline who the heirs are. If there are other heirs, and the bills you or him paid are not an estate expense then you / him essentially used the other heirs inheritance and this would not be in acordance with probate law or her will more than likely. I don't think paying personal bills of you or you brother would be considered a legitimate expense of your mother's estate unless those bills were yours or his expenses connected with administering or taking care of the estate. If you / your brother are, in fact, court appointed administrators of your mother's estate, then you will have to provide an accounting to the Court sooner or later, therefore, keep receipts and explanations of all estate monies paid out. By the way, is your mother deceased or still living and perhaps mentally incapacitated ? Either way, your will need to prove how and for what her spent an that that were spent either in accordance to law or her will.