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    di_edit's Avatar
    di_edit Posts: 5, Reputation: 1
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    #1

    Oct 28, 2009, 09:39 AM
    Estate account and auto pay, nondomiciliary co-executors
    My sister and I are co-executors of our mother's estate. We both live out of state, the lawyer must co-sign on everything that goes in and out of the estate account. Can we change the wording on the letter of testamentary so we don't have to go through the lawyer for everything? Also, can auto payment be set up for some of the regular bills (condo fees, utilities) until these properties are transferred?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Oct 28, 2009, 09:44 AM

    Why was it set up in this fashion in the first place?

    What State?
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    di_edit Posts: 5, Reputation: 1
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    #3

    Oct 28, 2009, 10:02 AM
    New York. We are not sure why it was set up this way (except for the fact that we live out of state?) My sister and I were named by our mother to be the co-executors a long time ago. I have time to go to NY and take care of things, but we feel constrained and don't want to have to go through a lawyer to ask (and pay!) for every response. I am ready to go now and open the estate account so I can pay her bills--which I have been paying on my own since she passed away in August of this year. She has some property that has regular utility bills that I would like to pay through this account until the property is sold or transferred to her heirs.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    Oct 28, 2009, 10:39 AM

    I'm also in NY so I'm confused by the requirement that all checks be countersigned by an Attorney. Who is paying the Attorney? Was the Attorney appointed by Probate Court?

    And, yes, an estate account should be opened to pay the estate debts until the estate is closed.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Oct 28, 2009, 10:48 AM

    Was this the lawyer that drew up the will? Sounds like, because you are not local, this was setup this way by the probate court. So you would have to petition the court for a change.

    On the other hand, it may have been a provision of the will, in which case you will probably have to live with it.
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    di_edit Posts: 5, Reputation: 1
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    #6

    Oct 28, 2009, 11:00 AM
    Thank you for the quick response. This is the lawyer who drew up the will, was paid by our mother and now will be paid through the estate account. I'm still wondering, can an estate account be set up through auto pay to pay some bills, such as condo fees and utilities?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #7

    Oct 28, 2009, 11:09 AM
    If this was the lawyer that wrote the will, he may have put in the provision for him to approve payments, or he may have been the one who filed for probate. In either case, m y original response holds.

    Yes, the only difference between an estate account and a regular checking account is that the name of the account is the Estate Of... If the bank offers automated payments or the creditors allow direct debit, then you can do it.
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    #8

    Oct 28, 2009, 11:22 AM
    Got it, thanks
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    #9

    Oct 28, 2009, 01:22 PM
    Probate & non probate assets; stocks & bonds:estate value
    How is value of estate determined if some assets are in a trust and others in probate?

    Do we need to disclose to our attorney that we cashed in ITF CDs after our mother passed?

    Do probate assets go into estate account first before being distributed? Specifically Stocks & Bonds? Or do we only need to disclose to attorney of the value of these bonds?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #10

    Oct 28, 2009, 02:04 PM

    I would be up front and honest with the Attorney - you don't want a problem to be discovered somewhere down the road.

    You are paying this Attorney. Use his/her services.

    Should be combined with other question.
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