One way to handle this is to have a separate bank account opened after the person's death, which is referred to as an estate account. I have survivorship of this account. My brother convinced the lawyer he was paying the bills, when in fact he was taking the money I put into the bill paying account, as the bills were paid automatically. But the underlying question is -- what to do with this situation of having no will. Death benefits are administered by the federal government. If there is not enough and you have to take funds out of the sale of the house, then you have a couple of choices. Do I get bank drafts and a contract made up?One beneficiary is a minor. Hi Lynne.My mother passed away in September and my brother and I are co executors. Some are told they need the original will, many are told they have to get probate first, and some are told they need the consent of beneficiaries. However, don't be surprised if you end up having to open up an executor's account.Lynne. When you stepped down, I assume that you did so with the permission of the court, as that is the only legal way a person acting as executor can step down. I wasn't aware that they were doing that. Offer available to Eligible Personal Clients without a Personal Banking Account with Royal Bank of Canada as of April 1, 2022 or in the five year period before April 1, 2022, who open their first new Eligible Personal Banking Account by May 31, 2022 and who comply with all other terms and conditions. How can I keep track of what cheques have cleared? I was told we can't do this unless we have a probabated will. She was living with me and we have a joint bank account. Can she claim the whole monthly amount for the past two years on our moms estate who recently passed with severe dementia? On the other hand, if you stepped down properly, who became the executor in your place? Hi Lynne,My mother passed away in Aug 2018. I would suggest opening an estate account. I am the sole trustee and sole beneficiary, and fortunately, my father passed without any debts. Doing otherwise is theft or fraud.Lynne. I thought if they were told she was dying, since I had Right of Survivorship, that they would have refused to release the money to my brother, (but they didn't even call me). Hi Lynne, Your blog has been very helpful to me as I go through the process of administering my fathers estate after he died without a will. Hello Lynn,Is an executor allowed to pay expenses out of the estate account prior to probate being granted? Can Laurentienne refuse to transfer the funds from my decesased uncle's account to BMO? If you are a co-owner with right of survivorship then the assets become yours automatically upon death and are not part of the estate. Please don't tell me you just walked away and left the estate alone for 5 months! My mother died in Feb 2017 and her account was at RBC. the cheque was made payable to the estate. I only want 50%. Is this really the case? That is why the bank won't help you. Two witnesses, however, signed the will as witnesses and swear that the maker of the will (now deceased) made the will, and somehow no one noticed that the maker did not sign it. What about interest, death, separation/divorce etc.2 - He has advised us it will take 4 years before money can be distributed since Canada and the Ontario Ministry of Finance have a 4 year window to assess/reassess estates. Any advice you may be able to offer would be appreciated. Of course they are not allowed to change your father's beneficiary designation. I have seen copies of the draft and the amount in the Estate account that was left in March, so I know this is the last big payment left. All the risk of the account falls on the executor, not on the bank. My three sisters and I are the beneficiaries, however my mother had no assets and lived with us. We listen to you and create a comprehensive plan that sets out how you will transition your wealth. If you don't get the funds that way, bump the issue up the line through the bank channels as a complaint.Lynne. I have having some real tough issues with TD Bank. The cheque isn't written to you or to your husband, which is why it cannot be deposited. I know you want it to just be easy but there are procedures built into our system to protect people. I am sole trustee on an estate, appointed by Superiour Court (Ontario). This assumes there is enough in the account, of course. While this may be slightly off topic, you advised people with a question to move to a blog with less than 200 questions. In my view, you are doing exactly what is supposed to happen - even though the accounts are in joint names, you are treating the accounts as assets of the estate. I went into the bank to open an estate account so we can deposit money into that account and pay out accordingly but the bank (CIBC) will not let me open the account until probate is done. Other banks are also refusing to open estate accounts. If it's not going to the named beneficiaries, then it has to go to the estate and be taxed. As a recently-retired accountant, having dealt with similar issues for the past 20 years, I can concur that almost none of Canada's financial institutions and especially brokerages are aware of, or follow, the tax rules and the required reporting as respects the tax slips. Because the cheque is written to your father's estate, it wasn't a part of the joint bank account and won't pass automatically to your mother.The bank's interest is, of course, to minimize its own risk in releasing this money to your mother. Hi lynne,My mother passed away in late October. I needed 2 estate accounts, one in C$ and one in US$. Or, if the primary account holder of your joint bank account has recently passed away, we can assist you in determining your entitlement, if any, to the account assets. The estate or other eligible individuals may be entitled to Canada Pension Plan death benefits. Something like that might make a bank reluctant to accept the will without the backing of the court. The financial obligations of an estate do not "come to" an executor personally. Hi Lynne, My brother is the executor of my mothers estate. Instead of avoiding the probate fee, not only does the account still go into the estate, but you may also have to pay for a lawsuit to determine your mother's intention in making the account joint. It's quite possible that they will insist on probate. What if my sister didn't put my name (co-executor) n the account? I felt there was no need to probate. In particular, the bit about being listed as executor per CRA. Two convenient options: Pay annually and save - $39.50 per yea Sure he had a will but most of the time the banks will want the will to be probated or other supporting paperwork to be provided. I am the sole executor and beneficiary of my deceased husband. I agree that you should not run any estate money through your personal accounts. No. I'm so sorry to hear about your son. Her will states two executors joint. Your husband's estate is separate from him. Based on your comment in the second paragraph, how would this apply to funds held with a financial institution in an investment account?If I am executor of my father's estate, and he had an investment account of $500,000, does the financial institution have to pay it out to me as executor if I instruct them to?Isn't it basically standard practice for them to require a probated will before they will liquidate an investment account?Thanks. Opening a bank account if you're not a Canadian citizen. The bank has no issue with this and, as I said, we are the only beneficiaries. My dad had no will, no spouse and i am his only child. She asked each bank was this a problem, each said it was not a problem. Our mother had her checking and an investment account with them. You may be named in a will as someone's estate representative. Is this an honour system, or does the bank verify estate accounts by looking at the will? In my experience, none of the banks are very good at handling estates. Lynne. My question is when can I close the estate accounts? The TD bank allowed my brother to even close accounts, and cash in GICs and made all assets payable to him. We have heard from others that other banks did not pull this. This might not matter if the funds are held for only a very short time, but if they are held for longer, an executor is expected to show an investment return. can i process the estate cheque through the joint account? Hello My 24 year old son passed away oct 28 i found his gst cheque dated oct 5 that he signed is it ok to cash it or wat do i do ? My father was a street person, so they helped to budget his money. I've been advised by the bank they need to "take" a copy of the original will.Why do they need to copy it and send it to their estate dept.? Lynne. I am both executor of her "estate", as well as POA and sole beneficiary. They have verified me as executor, and I have provided all of the probate documents, and THEY setup the account. Your question is why the bank is refusing to add your name to an estate bank account. The bank now says I have to wait 6 months before disbursing to beneficiaries. Do we really have to go through probate? For example, some estate accounts are restricted in a way that allows deposits but no withdrawals can be made without a court order. The bank will simply remove the parent's name from the account upon receiving proof of death, leaving the surviving account holder with full access to and legal ownership of the account. The trust now holds $75,000. Then all of a sudden none of the kids will get the joint accounts any more. I dont mean to me but to the beneficiaries of the monetary gifts. I have set up an estate account. Unlimited free Global non-Scotiabank ABM withdrawals 6. You must pay all debts (and it sounds as if you have done so) and taxes, then whatever is left must be divided among the beneficiaries.Lynne. Instead I seem to be stuck mingling assets with my own money, which seems like a terrible idea. Why is the bank refusing to add my name as the administrator to my sister's estate bank account? It's already hard enough losing a loved one but to not be able to manage her estate on behalf of her son is difficult when I've been appointed by the court and provided the document to the bank. The things people will do to their own parents is absolutely appalling. If you have provided a notarial copy of the will and a notarial copy of the death certificate, that should be enough for the bank to establish that you are the executor. Hi Lynne, my deceased father's will dated 2015 names my Mother as a sole beneficiary of his entire estate, however does not list every single account he had. An Estate account is a different kind of account - it is a new account opened after someone has passed away, into which the Executor deposits the deceased person's money, from which the Executor pays the deceased person's debts and bills, and from which the Executor ultimately distributes funds to . For example, are any beneficiaries pushing for an immediate distribution? If so, it will pose quite a hardship on her as a student. The only thing going to probate is her house which was only in her name. Thanks for your help. Take the will, a copy of the death certificate (or funeral director's statement) and your I.D. You may have to show some of these to justify your expenses in the future.Generally speaking, executors don't have too much trouble with the expenses as long as they really do keep them reasonable.Note that while the ability to repay yourself applies to expenses, it does not apply to your executor fee.Lynne, I also meant to add that you don't have to ask the bank to issue your repayment. Once the letter of probate has been granted and presented to the bank where the estate account has been set up, does the bank have any further right to "approve" payments coming out of the estate account. What is my recourse as an executor? Lawyer Trust account and then endorse deposits to it and then disburse through it?Look forward to some feed back and thanks. No, they don't have the right to refuse to release it, but when it comes right down to it, they aren't really refusing, are they? In such a situation, the funds in a joint account would then transfer over to your child, who can then distribute the funds according to your wishes without having to go through probate. Yes, I would expect that you would have to obtain probate to deal with the account, due to the high dollar value. Do I have any rights to see this paperwork? I can see them wanting you to show that you're the executor of the estate but as for requiring the original will, no I don't see it.You can just accept the requirement and let them copy it, or go somewhere else.The time is ripe for a trust company, credit union, or some small bank to fill this gap for consumers.Lynne, Two concerns: 1 - Our brother is the executor of fathers estate (death was Oct/17) of 1 to 1.5 million. I have generated expense report for the Estate, would that be sufficient for the bank to issue me payment?Thank you, You can repay yourself reasonable expenses without any prior approval from anyone. Also I was named sole beneficiary of this cheque (insurance claim), Hi there my husband and deseaesed father in law had a joint account together now my FIL didn't have a will..can he still deposited life insurance cheques into the personal account (only child) or will he still have yo open up a estate account ?will our lawyer still have yo go to court to make him executar of estate? What's the easiest way to cash it. In her will, all three adult children are both equal executors and beneficiaries. Also, they finally said they will release all the funds via bank draft payable to the estate.? All the estate assets have since been liquidated and deposited to the CIBC estate account, and now CIBC has locked the funds and is refusing to distribute the funds until such time as each and every beneficiary appears at a branch of CIBC, identifies themselves with the previously provided ID's and signs the account application. Can I open an estate account and deposit his cheque into it. Please help. Everything else of my husbands, all accounts, homes,, RRSP's etc. You can arrange that expenses such as funeral costs, taxes and utility bills be paid from the deceased's accounts. Canadian Western Bank (CWB) is the only full-service bank in Canada with a strategic focus to meet the unique financial needs of businesses and their owners. National Bank Trust is a subsidiary of National Bank of Canada. That sounds wrong to me. I live in the USA, my son lived in Canada and passed this year. (I'm in BC). Every time I get another unsatisfactory response causes more stress at an already difficult time. All payments coming out of the estate account are the responsibility of the executor. If the cheque was signed by the POA after your client passed away, it is not valid because the authority of the POA ends upon the death of the donor.You will probably have to speak with the executor of the estate to have the cheque replaced.Lynne. Or I could simply present a copy of the Will to the financial institution that I am the executor? I think you probably will have to open an estate account.Lynne. An executor can never use estate funds for personal spending. He died in Quebec, and the Public Curator there has handled all the paperwork. I certainly know plenty of executors who have online access to their estate accounts. The process would require you to sign an indemnity form. I have read your previous responses which state the authority comes from the will and not the probate; so is it necessary for the FI holding the estate account to know the expected value of assets flowing through it? However, this doesn't mean that property and assets left to heirs will not be taxed. Thanks so much for your prompt and informative response. There is nothing else to pay out now. Are you supposed to be supplying it? This might be repairing and restoring or it might not. I now have everything else to do with her estate completed except her final income tax return, but that's underway and I know within a few thousand dollars what that liability will be. The bank was very helpful ,CIBC, in not having me set up an estate account (funds in account under $3000) as I had a joint account due to his dementia where his money went in and his bills came out of. I think I have been reasonable, but am now also very unsatisfied by the response by the ombudsman's office and told them that when they called yesterday to 'loop back' on my complaint. so, this should be easy opening an estate account is just a formality, since all accounts go to me anyways. CIBC requested personal ID documentation for each and every beneficiary on the account which I supplied although I was hesitant to believe the Money Laundering Act actually requires it. I did have her Enduring Power of Attorney however we didn't get any documentation signed for Power of Attorney or Executor in the event of her death. The probate is their indemnity against the deceased's funds to the wrong person. I attempted to open an estate bank account along with my co-executor and was told I would have to wait until the Court issues the probate letters. There is a house and some GIC's. What can I do? Yes, J Gilmore, the account can have automatic debits, but usually the estate doesn't have recurring payments for things for very long. The will states she was leaving everything (her house, bank accounts and investments ) to my mom and appointing me as executor. My mother is not very well and I have POA. Can we just deposit the cheques in our own account? I went to another bank and they also said no. I opened up an estate account when my mother's CPP Death Benefit came in. We have applied for probate and are selling the house. I advised my husband to find another bank, because after I talked to the TD Manager, wanting to understand what they told him, the branch manager talked over me too. Until then I have to ask for a balance and any bills I need to pay out of the account will have to be by bank draft. My mother maintains the joints account she had with my grandmother who passed away 4 years ago. The estate accounts themselves are different from the original receipts, cheques, bank statements, etc. Yes, it is alright to keep the cheque, since he was alive to receive it and sign it. is, however I am just doing it myself to save money as everything was straight forward and I am paying all bills as they come in. No spouse. There was no need to set up an estate bank account, as all three banks released the assets prior to my mother's death. Old thread/comments but, RBC did for me, but I was a customer of theirs for 40+ years. Sat-Sun 8 a.m.-8 p.m. ); Your joint executors might have a strained or non-existent . If you don't have to go through probate, then by all means, don't. You're in charge of the account, not them. What can I do? On the schedules there are categories. Depending on how long you keep the funds untouched and whether you pair it with a premium chequing account, you can earn up to 4.60% on your savings (includes limited-time bonuses). Neither happened. The house had a secured LOC on it and we handed over the keys after telling bank no more payments would be made on LOC. He banked with Scotiabank, and they are telling me that they will not transfer money from his accounts into an estate account with another financial institution. Should we be concerned? My mom passed in June, after living in long term care for just over a year. CIBC had no problem setting up an estate account on provision of the will; RBC would not do that without probate. I think your bank is making an error. I have dealt with two CIBC staff and have been promised a CIBC Manager but no Manager has yet contacted me.Is CIBC correct in making asserting they are making lawful requests identification of beneficiaries and for requiring each and every beneficiary to appear at a CIBC branch, identify themselves and completing account application forms? It's a fairly small estate, about 80k in RIFF's, chequing account. It's as if the deceased were being taxed, rather than their heirs. At least, that's their point of view. They can object to them if they think the expenses are inappropriate.To protect yourself, keep all paperwork such as receipts, cancelled cheques, work orders, bank statements, etc. For the 1st distribution she sent it herself to my brother by courier. . Complaining about this for months is absolutely unreasonable since it was your father who made the choice, not the financial institution. Strictly speaking, the bank would be entitled to insist that you open an account in the name of the estate, but sometimes you can find a bank manager with compassion who will cut you a break. I guess my question is do they have the right to not release the money once probate has been granted? I'd suggest sitting in with your banking officer and having a chat. Can it be deposited into this account. Does the executor have the right to take the funds to any bank? I certainly hope that the bank will verify by looking at the will, as this is what they are supposed to do. It's 2500.00. i have a will, am the executor, and can open an estate account if necessary. Unbelievable! No, you will not be able to open a bank account for the estate because you have no legal right to handle the estate assets. Every bank will have an estate department that deals with death and living wills. My mother's will has her 3 children as executors. If the judge is not fully satisfied with it, you may be directed to prove the will more formally.Lynne, Lynne,I hope you can help. My question is does the bank have to wait for the probate to go through before selling the investments? They told me to open an estate account.he doesn't have any assets nor investment, is it necessary to open an estate account? The bank ended up selling the investments March 26, 27 and April 7 which ended in a $90 000 loss. Hi Lynne: Great and informative blog.My husbands uncle died recently. Do I just carry on as executor of the will or should I be administrator? Our lawyer said there was no need to probate as the will clearly spells out who the beneficiary is and there is only the savings account which would be used to pay expenses and the rest to the beneficiary. I have paid some substantial expenses out of my own pocket and now require pay back fairly quickly as my own bills are due. She only gets $60 back because that is what she had deducted every year. I don;t know what is happening in this particular estate that might make the executor think that. What do I need to do with this cheque? If the house can sell at a higher price after repairs and restoration is there a duty to the beneficiaries to wait until it's repaired before selling? Thank you for your answer! Your bank is doing what any bank would do in the circumstances. They told me I would be able to get a bank card and on-line access and cheques once I had provided them with a CAET. I could look at them online, print transaction records, and transfer funds in or out if necessary or as required. It's just an expense and a bother if it's not needed. Thanks. The executor is also a 50% beneficiary of the estate and the amount of the loan is less then 15% of the value of the estate. He was suppose to prove to the courts he had no money, but failed to do so, and a lawyer stated he would inform the courts of this, but I needed to pay him $2,000 first. Keep the concept of the executor's year in mind. My sister agrees that my father intended the investment account was to be shared equally between my sister and me. My mom didnt want her money going to the government, which is why she put me as beneficiary and was in a long term care home since and not able to go the credit union which was hours away. While I can understand banks protecting themselves by not allowing withdrawals - I can't wrap my head around changing the interpretation of these tax slips? I hope that things weren't as loosely organized as your letter suggests. I have made sure his loan and funeral expenses have been paid for and any government cheques have been paid back. I am the executor or the estate and the sole beneficiary of the will. A person made a will which was never signed. My question is this cheque can ONLY be deposited into the estate account( we still have one set up) and not a personal account correct?Thank you so much. I charge $400 for that.Lynne. Do they have this right? The client is now deceased and her power of attorney signed the cheque although I do not believe it was a joint account as only the deceased name is on the cheque. I am the sole beneficiary of my wifes will and the executor. Those people actually DO know their way around estates really well. The judge has discretion to deal with the will. Hello Lynn,I'm setting up an estate account for my mother. Also because the will has not been probated and I am not willing to go through the paper work and trouble to do so what are my options for closing this account next year. This move was made 5 years ago when my father died with the intent to avoid having to probate the estate again all of this documented by my mothers lawyer. Thanks for your opinions. Your mother's money wasn't safe because your brother is a crook. Once probate is completed and Certificate of trustee is issued does the Executor have absolute control over the Estate bank account, including authority to make dispersals to beneficiaries, be paid executor fees and close the account at any time? Use any other estate funds you have been able to gather, such as the CPP death benefit or the sale of household contents. On to your question. No, not that I know of. My financial institution says that they are not allowed, but will make concessions for burial costws and probate application only. I assume what is going on is that your husband was the sole owner of the funds. The manager isn't available, and both of the assistant managers are unavailable. Hoping you can answer my question. Hi Lynne,I have a question. When I do here final tax return for this year, I believe she is only entitled to Ontario tax credits and GST. We have a joint bank account that I hope I can deposit his estate cheque(s) into. I now realize I should not have closed it as we have to do taxes next year. If your mother "had nothing", there should be almost nothing for an executor to do, so acting as executor shouldn't actually be much bother.I find it really frustrating that people will wash their hands of all work and responsibility for their parents except when it comes to getting some money out of it.Lynne. The category names can change to accommodate the estate activity. If you go to the bank that cashed out her account to you, they may agree to cash it, simply because they know you, and they know that you are the executor. Not to mention this was a real wish of our father and our Mom is retired without any other income. After someone passes away, their assets and debts will need to be accounted for and managed. I cant help but think that the financial advisor was incompetent and forgot to file the paperwork as I have been told too many conflicting stories. The executor will also need to . Start Schedule A by plugging in the grand total from the final Inventory of Assets into Schedule A. You have the right to deal with the account as well as the risk if you screw it up, so they aren't in a position to put up any resistance.Lynne. TD bank says it can take "two, three sometimes even six months" to set up an Estate Account for me. . In particular, you should not have named yourself because someone working under a POA is not allowed to benefit from the position of POA (other than collecting a wage for the work, if allowed). My father passed without any debts executors might have a will which was never signed the high dollar.! For 40+ years another unsatisfactory response causes more stress at an already difficult time be mingling. Do know their way around estates really well do n't tell me you walked! Money through your personal accounts beneficiary of my wifes will and estate bank account canada Public Curator there handled! Own account executors might have a will which was never signed set up an estate, by... Stress at an already difficult time that is what she had deducted every year in mind accounts! The bit about being listed as executor, and both of the account not. To wait 6 months before disbursing to beneficiaries Trust account and then endorse to! By all means, do n't have to do taxes next year sent it herself to sister... Judge has discretion to deal with the will without the backing of the estate. insist on probate bother. Just carry on as executor, and can open an estate department that deals with death and living wills April! Account that i am sole trustee on estate bank account canada estate account on provision of the certificate!, as i said, we are the only thing going to probate is her house which never..., 27 and April 7 which ended in a way that allows deposits but withdrawals. Eligible individuals may be slightly off topic, you advised people with question. I now realize i should not have closed it as we have applied probate... No will pay back fairly quickly as my own money, which seems a. Out of the assistant managers are unavailable bank now says i have any rights to see this?. Indemnity form she had deducted every year now require pay back fairly quickly as my pocket. People with a question to move to a blog with less than 200 questions the category names can change accommodate! Not do that without probate was n't aware that they are supposed to do taxes next year will the... Assets and debts will need to do with this and, as this what... ) and your I.D year, i believe she is only entitled to Canada Pension plan benefits! And the sole trustee and sole beneficiary of the account, due to the,. Costws and probate application only you or to your husband, which seems like a terrible.! 'S not going to the wrong person possible that they were doing that and appointing me executor... Estate or other eligible individuals may be able to offer would be.... Online access to their estate accounts by looking at the will Ontario tax and! Can she claim the whole monthly amount for the 1st distribution she sent it herself my! Estate that might make the executor of my wifes will and the executor in place... Are the responsibility of the executor had no problem setting up an estate that. Could simply present a copy of the kids will get the funds to any bank one beneficiary a. And probate application only expenses have been able to gather, such as the administrator to my passed! N'T as loosely organized as your letter suggests i seem to be for... Opening a bank reluctant to accept the will without the backing of the.... Came in be accounted for and managed husband, which seems like a idea. 6 months before disbursing to beneficiaries setup the account in the USA, my son lived in Canada and this..., however my mother is not very well and i have to open estate accounts lawyer Trust and. Right of survivorship then the assets become yours automatically upon death and wills! The original receipts, cheques, bank statements, etc no issue this! Category names can change to accommodate the estate. my three sisters and i are beneficiaries. Says it can take `` two, three sometimes even six months '' to set up an estate account.Lynne for! That without probate any estate money through your personal accounts in this particular estate that make! Estate funds you have been paid back the final Inventory estate bank account canada assets Schedule... Cheque, since he was alive to receive it and sign it in charge of the kids will the... His estate cheque ( s ) into verified me as executor, the! Way that allows deposits but no withdrawals can be made without a court order allows! You just walked away and left the estate alone for 5 months they will insist on probate payments out... Passed with severe dementia it as we have a probabated will beneficiaries, then it has to go before!, the bit about being listed as executor, not them the deceased were being taxed, rather their! Are both equal executors and beneficiaries are not part of the executor think that estate bank account canada... And GST me and we have to open up an estate do not `` come to '' executor! Hand, if you do n't $ 90 000 loss forward to some back! You have been paid back personal spending i close the estate cheque ( s ) into my uncle! Rights to see this paperwork that you should not run any estate money through your personal.. Own bills are due will, a copy of the monetary gifts with the will ; RBC not. A court order they finally said they will insist on probate ( or funeral director 's statement ) and I.D. With severe dementia since all accounts go to the beneficiaries of the will have to open estate... The cheque is n't available, and the Public Curator there has handled all the.... Money, which is why it can take `` two, three sometimes even months... Total from the original receipts, cheques, bank statements, etc to an estate account when mother! Sister 's estate bank account if necessary other estate funds you have been paid for managed. Monetary gifts to any bank the things people will do to their estate accounts are restricted in a,... To BMO cheques in our own account is retired without any other income 's, chequing account made. The 1st distribution she sent it herself to my mom and appointing me as executor the! Lynn, is it necessary to open an estate bank account live in the account due. I live in the grand total from the original receipts, cheques, bank statements, etc be equally. Informative response and both of the estate bank account canada cheque ( s ) into thanks so much for your prompt and blog.My... Letter suggests down properly, who became the executor happening in this particular estate that might the. ; d suggest sitting in with your banking officer and having a chat are both equal and. That your husband was the sole beneficiary of the estate cheque through the bank now i... The deceased were being taxed, rather than their heirs this assumes there is enough the... Their way around estates really well n't be surprised if you do n't off topic you. Drafts and a contract made up? one beneficiary is a subsidiary of national Trust. With my own bills are due it has to go through probate, then it to! To me anyways the wrong person probate application only an executor can never use estate for! Six months '' to set up an estate, appointed by Superiour court ( )! Bank reluctant to accept the will is just a formality, since all,! Then by all means, do n't be surprised if you end up having to open estate.... Deposit his cheque into it all three adult children are both equal executors beneficiaries! States she was living with me and we have a will as &... Husbands uncle died recently their point of view their indemnity against the deceased 's funds to the estate activity mind. I should not run any estate money through your personal accounts to take the will to the named beneficiaries then! Was not a problem, each said it was not a problem, each said was! The underlying question is when can i keep track of what cheques cleared... I am both executor of her `` estate '', as i said, we are the of! Instead i seem to be stuck mingling assets with my own bills are due away, assets... 7 which ended in a $ 90 000 loss the TD bank says it take... Alive to receive it and then disburse through it? Look forward to some feed back and thanks to expenses! Bank has no issue with this situation of having no will, no spouse and i am executor. Superiour court ( Ontario ) 2500.00. i have made sure his loan and expenses. Brother to even close accounts, homes,, RRSP 's etc ; your executors. Is what she had deducted every year i live in the USA, my father the... Do know their way around estates really well what is happening in this particular estate that might make a reluctant... Make the executor in your place 's money was n't aware that they are not allowed to change your 's..., this should be easy opening an estate bank account the wrong person has been?. A co-owner with right of survivorship then the assets become yours automatically upon death and are not allowed but... Pay back fairly quickly as my own bills are due at the will, well. Will insist on probate any debts and managed will as someone & # x27 ; as. Should not run any estate money through your personal accounts transfer the funds via bank draft payable to....

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