Ask Experts Questions for FREE Help !
Ask
    talmadge47's Avatar
    talmadge47 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 22, 2007, 07:37 PM
    Do I need to open a new estate account for Mom?
    My father died 9/26/07 and my mother died 10/17/07. I opened up an estate account
    With bother of their names on the account. The IRS assigned me an EIN then recently
    Assigned me another EIN for my mother's estate. Do I need to open up another estate
    Account showing just my mother's name on it since all that my father had was left to
    My mother?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Dec 22, 2007, 08:28 PM
    Yes, being issued a separate EIN, requires a separate account
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Dec 22, 2007, 10:06 PM
    Yes, because you will need to show the estate moved over.

    I have to ask about the estate account for your dad since if your mom was still alive, and if everything was owned jointly, there should have been no need for an esate account for him to start with
    That is assuming things were all owned jointl.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Open an estate account [ 7 Answers ]

My friend received a check from the insurance company payable to the estate of his grandma. The check was her grandma's part of the settlement of a car accident in November 2006. However, her grandma passed away on 3-31-07. The check needs to be deposited into her grandma's estate account. He...

Leave estate open? [ 5 Answers ]

My wife's mother passed away in Dec. 06. All household property was distributed. The house sold in March 07. All the postings were made in the paper etc and all known claims have been settled since around the time the house sold. The money left over has not been distributed. The question: ...

Can I open another account [ 3 Answers ]

We had charge cards, got in over I heads indebt. Enrolled in Amend Credit Counseling ( bills were not late or over limit at time of enrollment).I kept them 6 months they took $571.00 each month to pay bills. They said they could have the interest stopped. I REALLY GOT SCREWED. I found out later...

Estate account [ 3 Answers ]

I am the sole heir to my mother's estate;opened an estate acct. My question is what do I do with the money in that acct? Can I use it to pays bills such as home owners insurance,etc.


View more questions Search