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Can an executor remove funds from a deceased bank to put to the will before closing the account?
Wiki User
∙ 9y ago
yes that is the legal way of handdling the matter
Wiki User
∙ 9y ago
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If an executor finds that money was removed from the deceased bank account just prior to death by a relative can you request return of money and if so can you forgive any portion that is unretrievable?
An executor has no legal authority before a person death, nor can such authority be retroactive. If someone held a POA, that person might be able to recover funds that were taken from the account depending upon the circumstances. If the funds were withdrawn without permission of the account holder and signature(s) were forged or a debit card used criminal charges could be forthcoming if a complaint is filed by the deceased's surviving family members.
Can executors use the money from the deceased bank account for personal use?
No! The executor of a will is responsible to safe guard the assets of the estate. They are also entitled to compensation for their services. They must give a full accounting of the estate to the probate court before it can be closed out.
In Florida what should a daughter do about credit card debt of a deceased parent?
Make sure the executor of the estate is aware of the debts. Those debts have to be resolved before there can be distribution of the estate.
Can a frozen bank account be used for funeral expenses?
A court will need to lift the "freeze" order before funds can be removed from the attached account. If the account belonged to the deceased the probate court has jurisdiction, in which case funeral expenses will be paid from the estate of the deceased. If the account does not belong to the deceased it is unlikely that a request for release will be granted unless the requester can provide documentation that there is no other means to obtain burial funds.
If you are executor and there is only money in IRA do you have to take the money out to pay off car loan of deceased?
Or you have to sell the car and settle the loan.
Is the Executor of the Will responsible for paying the debts of the deceased?
Yes. That is one of the duties of the executor. The debts must be paid out of the assets of the estate before legacies are paid to the beneficiaries.
Can a credit union take money out of a frozen acct of a deceased person without the permission of a family member for a bank issued credit card in Texas?
The account should be presented to the executor of the estate (not just a family member) before payment. That is, unless the deceased paid the bill before dying--then it goes through.
How long does the executor of a will have until he has to give you your money?
There is no time frame specified for closing an estate. The executor has to satisfy the court that they have resolved all the debts before doing the final distribution.
Are you able to draw money from your deceased mothers estate before probate is complete?
The executor is capable of doing so. As long as it is obvious that all the debts can be resolved, the executor can make distributions.
If an executor finds that money was removed from the deceased bank account just prior to death by a relative can you request return of money and if so can you forgive any portion that is unretrievable?
An executor has no legal authority before a person death, nor can such authority be retroactive. If someone held a POA, that person might be able to recover funds that were taken from the account depending upon the circumstances. If the funds were withdrawn without permission of the account holder and signature(s) were forged or a debit card used criminal charges could be forthcoming if a complaint is filed by the deceased's surviving family members.
Can executors use the money from the deceased bank account for personal use?
No! The executor of a will is responsible to safe guard the assets of the estate. They are also entitled to compensation for their services. They must give a full accounting of the estate to the probate court before it can be closed out.
Can a executor get paid their fee if the estate is not approved but its closed?
Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.Generally: Yes. Paying their own fee from the estate, as well as distribution, must be done before the estate is closed. The executor's fee is set by law and will appear in the final account. As long as the fee is properly assessed and listed in the final account, the court will approve the final account and at that time the estate is closed. All the executor's duties must be completed before the estate can be closed.
Can the parents close all the existing accounts of their deceased son?
Banks require a surviving family member or authorized party to present an order from the probate court before they will access to or the closing of accounts of a deceased person. Creditors can be informed of the death of the account holder, but they will generally take no action towards the account until they have been contacted by the deceased's legally appointed representative. The exception would be accounts that were jointly held.
Can a town sue an executor of an estate for back taxes if the estate already settled if so how long do they have to make a claim?
Yes, they can sue the executor. They breached their duty if they did not resolve the taxes before closing the estate.
Can an executor spend money from the estate to alter a house before he releases it to the beneficiaries?
An executor is charged with acting in the best interests of the deceased and adhere to the stipulations of the will. An executor may acquire money from the estate if: 1. there are specific stipulations in the will that the executor is entitled to funds as compensation for their efforts. 2. The executor is a named beneficiary of the will, a situation that often happens with couples.
How do you find out if your in a will?
When you are a beneficiary in a will you are contacted by the executor of the will as it is their legal duty to carry out the wishes of the deceased and to show that all wishes have been met to the court before they can receive their payment
The income summary account has debits of 85000 and credits of 75000 before closing. Closing income summary will?
increase retained earnings by 10,000
