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Your mother died and you are the named executor in her will can you obtain funds in her account?
Wiki User
∙ 14y ago
You must file the will for probate and petition for appointment as executor. The court will give you the authority to access the bank accounts once you have been appointed.
Wiki User
∙ 14y ago
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If I am a beneficiary of a POD bank account. Can the executor of the estate make me return the funds to estate?
No. The funds belong to you. Payable on Death accounts are not a probate asset. The funds will be paid directly to you by the bank. To collect the funds, you need to obtain a copy of the death certificate and take it to the bank. You must show whatever identification the bank requires. You should obtain an official statement from the bank stating the balance that was paid over to you. You should keep that statement in your important records and provide the executor with a copy. Although the account is not part of the probate assets the balance must be added to the assets of the estate for tax purposes. Therefore, all the executor needs is an official statement from the bank that shows the balance of the account that was paid over to you.
Is a bank supposed to refused to pay accumulated salaries in a deceased person's bank account to applicants?
Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.Banks do not handle salaries or applicants in regards to an estate. They do not disburse funds after the account owner has died. You should contact the executor and the attorney who is handling the estate.
If a bank customer has an individual account and they die and their will states that funds pass to a trust can the executor close the account?
Yes, they can close the account. The money will then be placed as directed by the will.
Can a executor withhold funds from beneficiary who has dementia. I have power of attorney and the executor is giving me a hard time about releasing the money to my mother?
Yes, an executor can withhold such funds, but they should be placed in trust for the benefit of the demented, perhaps under various spendthrift conditions or whatever is deemed necessary for protection of the gift. Whether the executor names you as trustee is his or her choice, but you will still have the powers of the POA once the trustees release the funds to you.
Can I as executor and having joint account with my mother write checks to my siblings without a lawyer since my mother lives with me and has no debts?
Your status as executor has no bearing as to whether you have access to your mother's finances while she is living. Additionally, whether you live with your mother or whether she has debts or not has no bearing as to whether you have access to her finances. What you need is a power of attorney. That being said, if you are also named on your mother's bank account as an account owner, then you have full access to write checks on that account just like she does. Be careful that you are not listed as TOD (Transfer on Death) or POD (Pay on Death) though instead of an actual account owner. Those who are listed as TOD or POD have no right to the account funds until the account owner dies.
Must you use an estate account as executor?
It would be prudent to do so. It keeps the funds separate and avoids accusations of improprieties.
Can an executor remove funds from a deceased bank to put to the will before closing the account?
yes that is the legal way of handdling the matter
My sister and I are co administrator of our sisters estate distribition is May 19 we have moved all money into new mma I have a emergency situation can I use a one time amt of the funds in the account?
This questions needs clarification as to whether the executor has a personal emergency or whether the estate has the emergency; whether the executor is or is not a beneficiary and whether or not we are talking about funds in the estate account or still in the decedent' personal account.
What if individaul dies and has beneficiary on account?
If the decedent named a beneficiary on his bank account the beneficiary can obtain a certified copy of the death certificate and proper identification and visit the bank to close out the account and obtain the funds.
How do you make a claim to a NY bank for an account found in the name of a deceased person. There was an executor of the will.?
The account would have become part of the estate. The executor was issued "Letters Testamentary" when they were appointed by the court. Those letters authorize the executor to withdraw the funds and close the account. Contact the bank to find the department that will assist you in closing the account. It will require certified copies of the letters from the court. The proceeds from the bank account should de distributed according to the provisions in the will.
What recourse do benefiers have if the executor does not distribute the funds?
File a lawsuit against the executor for not following the law.
Where can one find Lone Star funds?
Lone Star funds can be found directly from the official Lone Star website. One can obtain funds by creating a Partner account and finding out their eligibility.
