Thursday, July 21, 2011

Everything goes into estate account?

I am the executrix of my mother's will. I was closing out bank accounts today before putting everything into the estate account. At one bank, the check was made out to my uncle, who was the beneficiary on that account. The banker who helped me was questioned about this by another banker, who thought the check should have been made out to the estate. The first woman answered that the manager instructed her to make it out to the beneficiary. I took that as the correct answer because I wouldn't know either way but now I'm not so sure about it. A tax return will have to be filed for the estate so in order to have complete and correct records, I'm thinking I ought to put that money into the estate account and then give it to my uncle once the account is closed. Correct? Or can I legally give it to him now?

No comments:

Post a Comment