[timarndt]

My wife passed away over a year ago, and I have been negotiating with Mary Kay to have the value of my wife's Mary Kay assets returned to me. Unfortunately, they made out the check to "The Estate of" my wife. I have been advised that I need to open an Estate Account. Is this the only avenue to cashing the check? Mary Kay will not issue another check in my name. If I open the Estate Account, can I as Conservator, upon depositing the check, then withdraw the funds to pay off another account balance that my wife had created?

Thanks
Tim

[ebaines]

First, my condolences on the loss of your wife.

Second, Mary Kay did the right thing - the money belongs to your wife's estate. Mary Kay has no idea who your wife may have named as a beneficiary of her will. Based on your question I would assume that either she died without a will, or she died with a will that named you her executor - is that right? If so, then yes, just set up an estate account, and then you can write a check out of it to pay off any of her old debts or to pay out her assets to her heirs.

One other question - when you say "your wife's assets" do this mean her 401(k) plan? If so, your wife should have named a beneficiary, which would have avoided this mess. This assumes you are in the US.

[timarndt]

Thank you very much for your answer.

To answer your question, "my wife's assets" refer to goods she had ordered and paid for from Mary Kay. Upon her death, Mary Kay took back to products, and this payment to the Estate of my wife is the reimbursement for those products Mary Kay took back.

My wife died suddenly and did not have a will. However, I was named Conservator for her estate.

Thanks
Tim