Small estate closure

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Small estate closure

My 96 year old mother passed away leaving a checking account with a balance of $2400. She had established a living Trust under which this account was held and is the total sum of her estate. I have 2 siblings who have

requested I handle this matter as I had been our mother’s POA. I closed her checking account under the authority of an Affidavit of Successor in Interest form. The bank sent me a cashier’s check made payable to her estate. How do I get this checked cashed for distribution to my co-heirs?

Asked on August 10, 2018 under Estate Planning, New Mexico

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

You need to open an estate account: a check to an estate may only be deposited into or cashed with an estate account. To do that, you need the authority to open such an account; you get that authority from the probate court by being confirmed as the executor (if there was a will naming you as executor) or by applying for and being the estate's "personal represenative" or administrator (either term may be used) if there was no will. As a child of the deceased, so long as none of your siblings object (and it does not sound like they will), the court should grant you this authority. You can contact the court's clerk's office to ask about applying for this appointment; the court may also have information and/or forms available online.


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