Do I have to open an estate account in my late father’s name or do I just need to pay inheritance tax and close his accounts?

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Do I have to open an estate account in my late father’s name or do I just need to pay inheritance tax and close his accounts?

My now deceased father had no outstanding debts. He had a checking,a savings, a vehicle and a trailer that he lived in free and clear. All his assets are less than $10,000.

Asked on May 23, 2013 under Estate Planning, Indiana

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Then most likely you will not have to open probate. Check with your probate court on minimum requirements (usually a pamphlet will be available to you). Then, check the bank accounts to see if you were named as beneficiary or secondary account holder. If you were, you don't need to do anything else, either. But the bank may need a death certificate if you are not the beneficiary, etc. As for the vehicle and such, you will need a new title to sell, so go to the DMV and present the death certificate and your authority to change the title.


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