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A Power of Attorney is extinguished when the principal dies. The estate of the debtor is responsible for paying their tax arrearages.
The executor of the estate is responsible. They are required to file a tax return for the deceased. It may be a good idea to consult a tax attorney before doing this.
An adult child cannot close the account unless they are a joint owner of the account. If they were placed on the account for purposes of convenience then they are legally obligated to share the funds with all their siblings equally. If they did manage, somehow, to close the account without being a joint owner their actions would be illegal and they would be stealing. If there is any property in your last surviving parent's estate that was solely owned by them then you need to probate the estate in order for someone to be appointed the administrator. That person will have the authority to close the account and distribute the remaining funds.
If your parents are deceased the Power of Attorney expired when they died. It is no longer in effect. If your sister used their credit card after their death then she committed a criminal act and could be prosecuted. Her use of the crdit card has nothing to do with their estate. She is responsible for her actions. If she charged on the account after your parents death, the credit card company can't attach the real estate you inherited. They would need to bring charges against your sister. You should cooperate by providing them with any information you have that would help in their investigation, where they can find your sister and the circumstances that enabled her to use your parents credit card (her being the executor of their estates).
A Fat Cat Account is a bank savings account designed for children. The parents can open the Fat Cat account for the child, then help them learn about saving money and using a bank account.
There is no possible way for you to do this unless your parents have your name on their account or you have power of attorney over all items pertaining to them. If one of the two apply then you can contact the bank to set up this service.
You can get a savings account, and with your parents help even a checking account.
A Power of Attorney is extinguished when the principal dies. The estate of the debtor is responsible for paying their tax arrearages.
The parents' estates must be probated in order for the assets to pass to the heirs legally. You need to consult with an attorney who specializes in probate law in your jurisdiction.
The executor now controlling the estate has to do the transfer but if they had an executor, there is probably also a will, attorney, and a beneficiary (ies)
It is illegal to keep utility services on in a deceased parent's name. You should contact the utility company to transfer the account into your name or close the account if necessary. Failure to do so could result in legal consequences.
If there is a will, then the beneficiary gets the money. If there is no will all the children of the decedent get an equal share of the money.
yes as long as you are a signer. Www.bank-credit-tip.info
Typically they shouldn't be. The debts of the deceased are the responsibility of the estate. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
The executor of the estate is responsible. They are required to file a tax return for the deceased. It may be a good idea to consult a tax attorney before doing this.
If the person is not on the account they cannot access the account. All assets and property of deceased persons become a part of the estate as do all debts and are handled in accordance with state probate laws.
Yes, a person has the authority to name whomever he/she wishes. Additionally, that person can name multiple agents for power of attorney.