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What happens to a joint bank account with 2executors are on it the other primary holder dies what happens to the bank account?
When one of the primary holders of a joint bank account dies, the account typically remains active, and the surviving joint account holder retains access to the funds. If there are two executors on the account, the surviving executor can continue to manage the account as per the terms of the account agreement. However, it may be necessary to provide the bank with a death certificate and possibly undergo additional legal processes depending on the jurisdiction and the specific terms of the account.
How do you close out deceased cousin bank account when there is a will?
The executor of the estate has a Letter of Authority that will allow them to close the account.
Is it possible to cash a check Made payable to the Estate Of?
Nope, has to be deposited to an estate account. You can then go ahead and write a check to yourself from the estate account.... assuming you are the executor and have the authority to do so. Nope, has to be deposited to an estate account. You can then go ahead and write a check to yourself from the estate account.... assuming you are the executor and have the authority to do so.
When a spouse who is a primary bank account holder dies would the other spouse who is the joint account owner have to closed the account?
When a spouse who is the primary bank account holder dies, the joint account typically remains accessible to the surviving spouse without needing to close it immediately. The surviving spouse can continue to use the account, but it's advisable to inform the bank of the primary account holder's death. Depending on the bank's policies and local laws, the account may eventually need to be updated to reflect the surviving spouse as the sole owner or closed if a new account is opened.
What is joint account?
A joint account generally is an account with survivorship rights. That means when one owner dies full ownership passes automatically to the surviving owner.
Can an executor or girlfriend take money out of a decedent's checking account?
It depends on whether the executor has been appointed by the court and if the account was a joint account with the decedent and his partner.If the executor has been duly appointed they can access accounts solely owned by the decedent. That's their job.If the account is a joint account, it isn't a probate asset and the executor has no control over it. It belongs to the surviving joint owner.
If an executor finds that money was removed from the deceased bank account after death by a relative can you request return of money to pay outstanding debts?
Unless it was a joint account, the executor can do so. If it was a joint account, or one with rights of survivorship, there may not be an option. Consult an attorney in your jurisdiction to find out the specific laws that apply in your state or country.
Who does the executor account to after probate?
No one, unless some malpractice is discovered on the part of the executor after the estate is closed and sues the executor. Once the estate is distributed and a final account is filed and approved the executor is discharged and the estate is closed. After that, the executor has no authority.
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.
How does a surviving spouse cash a deceased spouse's check if it says to the estate of?
To cash a check made out to "the estate of" a deceased spouse, the surviving spouse typically needs to open a bank account in the name of the estate. This may require obtaining a death certificate and a court-issued document, such as Letters Testamentary or Letters of Administration, which appoints the surviving spouse as the executor or administrator of the estate. Once the account is established, the surviving spouse can deposit the check into that account. Consulting with a probate attorney can provide guidance on the specific steps and legal requirements involved.
Is there a way to find out how much money a relative had in their bank accounts when they died?
Not unless you have "power of attorney" that speicifies that right, or unless you're the executor of their estate.... or a co-owner of the account.
How does an executor withdraw the balance of a bank account?
When the Will is allowed and the Executor is appointed by the court "Letters Testamentary" are issued to the Executor. Those Letters set forth the legal authority of the Executor and a copy should be presented at the bank to make the withdrawal and close the account.
Who can withdraw monies from a bank account if someone has been made executor?
Anyone whose name is on the bank account can access it. The executor can access on behalf of the estate. They will have to show their letter of authority.
Is the executor of an estate always required to file an accounting of the distribution of the assets of an estate?
Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.Yes. The final account must be filed and allowed by the court in order to close the estate. An executor who refuses to file a final account should be reported to the court. The judge can compel the executor to file the final account so the court, and the heirs, can review the disposition of the estate by comparing it to the inventory and the distribution to heirs.
Can an executor's spouse insert themselves in executing a will?
Legally they have no standing to do so. Only the executor has the court order allowing them to act on behalf of the estate. The spouse certainly may influence them, but the executor still has to account to the court.
If an executor as not done that liquidation and distribution account correctly can you request it to be redone?
That situation should be reported to the court immediately and the executor should be required to correct their error in the distribution and file an amended account.
How do you close out deceased cousin bank account when there is a will?
The executor of the estate has a Letter of Authority that will allow them to close the account.
