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If you had a joint checking account with your deceased mother will you have to put it an estate account?
Wiki User
∙ 14y ago
Yes, typically when one of the joint account holders passes away, the joint account automatically transfers to the surviving account holder. However, it is advisable to consult with a legal professional to determine if any specific actions need to be taken, such as transferring the funds to an estate account.
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Can you use your deceased mother's bank account?
Not unless you were also named as a joint owner of the account. If you and your mother had a joint account the full ownership passed to you upon her death. If the account was your mother's sole account you would need to forge her name to make any withdrawals. That is not legal. The account is part of her estate.
What kind of taxes will need to be paid on a considerable sum of money from a deceased mother's checking account when it is divided between the surviving children?
Estate taxes are what need to be paid. The executor of the estate, or their legal advisor, should have a good handle on the process. If the value of the estate is less then about 1.2 million, there may be no taxes due, but you still need to file.
Are children responsible for the debts of their deceased mother in Illinois?
The estate of the deceased is responsible for the debt.
How can you find out how much your deceased mother owes Medicaid or MA?
Unless you are the Executor of your mother's estate, why would you want to know this? Unless the deceased died with assets remaining in their estate, the debt is forgiven.
Property distribution of intesteste mother having 3 children but one died having 5 children?
The five children of the deceased child would inherit the deceased child's share of the mother's estate, unless the mother's will says other. For example, if the mother's estate is to be equally divided amongst her 3 children, then one-third of the mother's estate is split amongst the five grandchildren of the deceased child.
Is my mother responsible for my deceased father's medical bills?
The estate of the deceased is responsible for the debts. Your mother will indirectly have to resolve the debts before the assets are released.
Is a joint savings account considered taxable as part of an estate?
My mother and i have a joint savings account my mother passed away does the money in the account become part of the estate
Can you open an estate account for your deceased mother even if you do not live in the same state where she lived?
You may if you are the court appointed estate representative.You may if you are the court appointed estate representative.You may if you are the court appointed estate representative.You may if you are the court appointed estate representative.
What happens if a surviving step-mother refuses to give assets to the children of the deceased as decreed in the deceased's will?
She is interfering with the distribution of the estate. She can be sued.
Since I am a signer on my mom's checking account when she dies will any of her tax debt be transferred to me?
Yes. Any tax liabilities that are due from a deceased individual get transferred to their legal heir. Since you are your mother's legal heir and a co-signer in her checking account, her tax debt would be transferred to you after her death. You need to pay the tax money your mother owes the government
Is a surviving spouse in Pennsylvania responsible for repayment of a credit card debt when his deceased wife was the authorized user on an account that was held by her deceased mother?
No. Only the account holder is responsible for repayment of debt incurred on a credit card. An authorized user is not responsible for repayment, but in this case if the now deceased AU continued to use the account after the death of her mother (the account holder), the AU's estate might be responsible for any charges made under such circumstances. In any event, the surviving spouse is NOT responsible to repay the CC debt.
You are the successor trustee of your deceased mother's estate in California Are you responsible for her credit card debt?
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
