How do I transfer money into an estate checking account to pay my father’s bills if I am not the beneficiary on his bank account?

UPDATED: Nov 29, 2011

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How do I transfer money into an estate checking account to pay my father’s bills if I am not the beneficiary on his bank account?

My father’s Will states that his estate is to be split equally among us 3 siblings. The banks, investment and life insurance companies will only release the funds to the beneficiaries of the accounts. In some cases that is all 3 of us and in other cases it is just 1 or none of us. I am the executor of the account. My brother is the only beneficiary listed on the larger of my father’s 2 bank accounts.

Asked on November 29, 2011 under Estate Planning, Alaska


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You can and should be able to transfer money (i.e., deposit) into any bank account without having to be the owner of the bank account or the beneficiary. The companies may be able to only release to the beneficiaires, but you as the executor can instruct the bank to submit monies from each account (equal portion for example) into the account to pay estate's bills or you can agree with your siblings on who will pay what (put it in writing, have everyone sign a notarized affidavit) and then instruct the bank (go in to work with executive staff) to transfer from X's account into your dad's account or from A to B to C. As executor, you should have no problem giving these directions and having the companies comply.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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