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

    May 12, 2008, 10:33 AM
    How do I set up an estate account?
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    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's Avatar
    robertva Posts: 249, Reputation: 30
    Full Member
     
    #3

    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #4

    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

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!

Estate account [ 6 Answers ]

How do I open an estate account with a check from Georgia and I live in New York. I received the check after the death of my mom.

Estate Account [ 2 Answers ]

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...

Estate Account [ 1 Answers ]

My sister passed away a few months ago and my father is trying to pay her bills, but the bank did not honor the check written on the account to pay for her residential care. My sister was mentally retarded and a ward of the state of ca, where she lived. She received social security funds and...

Estate Account [ 5 Answers ]

My mother recently passed away leaving several insurance polices, all but one named myself as the beneficiary the other named my father who passed away 8 years ago no one else was named as a second beneficiary just as children myself and brother. She left a will and named myself as sole beneficiary...

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