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When can you close your fathers estate account and keep the money as an heir?
Wiki User
∙ 11y ago
when can you close my fathers estate account and keep the money.
Wiki User
∙ 11y ago
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Can you get in trouble for taking from your fathers bank account?
It Depends: a. You will not be in trouble if - 1. you are a joint holder of your fathers bank account or 2. Your dad knows that you are going to do it and he doesn't mind b. You will be in trouble if - 1. You are not a joint holder of your fathers bank account and 2. He does not know you are taking money from his account. 3. And - he finds out that you did it
When closing a real estate deal what will the real estate broker do with the deposit?
The earnest money deposit is held in an escrow account until the closing takes place. At closing the earnest money is either credited to your side to add to your down payment or it can be credited back to you in the form of a check. If your deal does not close there are different rules in each state as to how the earnest money will be handled.
How can you get money from husband bank account if its not a joint account after he dies?
You have to wait until the estate is setled. Speak to a lawyer regarding the law in your area.AnswerIf the account is the only property in his name check at your local probate court for a simplified process by which the court will issue some form of authority in your name that will give you the power to close the account.
Can bank close your deposit account?
Sure you can. It's your money and your account and you can close it anytime you wish. However, if you are closing your deposit account before its intended maturity date the bank can charge you a small penalty on the interest component for doing so. But the original money you deposited will not be touched and will be refunded in full when you close the account.
Can you withdrawl your money from a CD account early?
Sure you can. It's your money and your account and you can close it anytime you wish. However, if you are closing your deposit account before its intended maturity date the bank can charge you a small penalty on the interest component for doing so. But the original money you deposited will not be touched and will be refunded in full when you close the account.
Who puts money into an estate account?
Whoever is the trustee(s) of the trust for the estate is responsible for the account, including putting money in it.
How can you get the money from your deceased mothers checking account?
The executor of the estate can close and empty the bank account. Distribution will be in accordance with the will. Consult a probate attorney in your state. You have to wait until the will goes through probate.
Can a co-owner on a checking account be liable for using money from an estate not settled?
Yes, the co-owner would be legally liable for using money in the account from an estate that was not settled.
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 a bank close your account?
It the account is left inactive for a long time with no money in it they may opt to close the account.
Can your probate attorney collect his money through a probate account if you don't have money to pay him?
The estate is responsible for the fees. So, yes, he can collect his money from the estate.
Who gets the money from a personal account when that person dies?
If the account was in the name of the decedent only, the money in the account becomes part of the decedent's estate which is then distributed according to the will.
If someone designates a beneficiary does the money have to go to the estate or does it go directly to the beneficiary?
In relation to an IRA account or some similar trust account, the money goes DIRECTLY to the beneficiary and is not a part of the estate at all
Is a daughter still at college responsible for her fathers debts after his death even though he left no money?
The estate is responsible for the debts of the decedent. If there is no estate the creditors are out of luck.
Can you get in trouble for taking from your fathers bank account?
It Depends: a. You will not be in trouble if - 1. you are a joint holder of your fathers bank account or 2. Your dad knows that you are going to do it and he doesn't mind b. You will be in trouble if - 1. You are not a joint holder of your fathers bank account and 2. He does not know you are taking money from his account. 3. And - he finds out that you did it
Can you pay for your fathers funeral out of his money if you are designated his executor on his will?
I'm not an attorney but in my experience the answer is yes - that is one of the reasons people make sure there is money in their estate.
If one adult child goes into a bank to close deceased parents checking account does bank have to tell other children who picked up the money?
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.
