You can close it if you want to.You haven't said who the beneficiaries of the estate are. It clearly names me as the Estate Trustee. My sister and I were listed as co-executors and my sister has since renounced her position as executor (legally documented with the lawyer that held my mothers will). I am the person who paid for the funeral and I already applied for the CPP death benefit. 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? By then of course, the 10 days will be long past. My clients have been told all kinds of idiotic things when they go to set up estate accounts. Can my mother continue to live in the house or does she have to move? No, the executor cannot make gifts that were not mentioned in the will. I am also sole executor of the will. She only gets $60 back because that is what she had deducted every year. The primary focus of the Account Specialist, Real Estate is to prepare credit applications, actively participate in credit structuring, risk management and client facing support. When the court appointed me as the administrator, her bank account changed from Jane Doe to Estate of Jane Doe. Royal bank will not allow me to open an Estate bank account, without a probated Will. After the death benefit from CPP was deposited, I as the executor, got them to make a money order for each of the 4 children (self included) to divide estate funds up and closed the joint account. They did have one joint account. Do they have this right? Why on earth doesn't she just do the paperwork before this all hits the fan? It's a downfall in our system, but that is the system we have.Let's hope your brother is standing right in the middle of the road when the karma bus comes barreling along.Lynne. I wasn't aware that they were doing that. The person you choose to administer your estate will use the account's funds to settle your debts, pay taxes and distribute assets. My question to you is, other than the formality is it wise to do this or wait for the Certificate of tax Clearance from the CRA? Do I have any rights? 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. I have Mom's taxes done for this year. How many times do I hear that in a week? I happen to be a beneficery, as well as my 3 kids. 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. 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? The lawyer suggested it might be more efficient to use the law firm's trust accounts. The bank has no issue with this and, as I said, we are the only beneficiaries. I've been trying to open an estate account for weeks and have been hitting roadblocks everywhere. Do I have to apply to Alberta Surrogate Court to have the will proven as valid before applying for probate? $300 welcome bonus 2. Do I just issue cheques from the estate account and the cancelled cheque is proof? Hi Bob,I would be very surprised if the bank did not allow you to sign a letter of indemnity under the circumstances. Estate Planning. Can I relinquish my claim as beneficiary and have Empire Life send the money directly to my 2 brothers, thus avoiding probate? I might have to put in a call to a financial advisor I know over there to see what I can find out about this.Lynne. You were correct when you suggested an account set up as "Administrator of the estate of Jane Doe". Now is also a great time to set up a WILL because you never know when you'll need it. You're right, that is the hold-up. I think your bank is making an error. Hi Lynne,My mother passed away in Aug 2018. Once you are proven to be the executor, the bank has no control over what you do with the money because they bear no liability. After months of us complaining they offered us to prepare a Disclaimer(?) Does the annual audit of accounts reflect this inaction? DO any banks allow online access to an estate account? Her girlfriend/partner of 30 years passed away. They don't give the retail branch staff any training and their policies are poorly understood and inconsistently administered. I somehow doubt this, but if yes, what additional documentation would be required?2.What are the ramifications of moving money from her account as it is today to myself for repayment? Other things might also flow through that estate account, such as the CPP death benefit. Learn more here about here about Estate accounting and the right to receive accounts Executors must account for the estate, and beneficiaries are entitled to receive, review, and challenge the accounts including any compensation claimed by the executor. My mother passed away in mid-March. HI Lynn, My case is very complicated,it started with the land my mum bought 5 acres of land in Fiji and she got her first cousin Vana to handle things to sell the land which mum got many offers even for $450,000.00 but mum trusted her daughter-in-laws family the lawyer she hired and her cousin in Fiji.when our beloved mother passed away notary Sublock Sublock never even got mum to sigh her Will even though we paid $170 fee for that one home visit Mr.Sublock refused to help us and we sent mum's old Will which was Notarized and the Fiji Courts refused to accept it and my dad was next of kin now they said Vana and fiji lawyer Ulamila Tuipuku said that my dad needs to do a Probate and I sent $3,500 for court/lawyer/probate and months down the road Vana and Ulamila said that the court won't accept the Probate that they wanted her in my Dad's WIll which he "WE HAD A DEAD LINE OR LOSE THE LAND " we said that was crazy and we went through with that and so so and we went through Mr. Sablock again because he had the history regarding the land and my mum's information etc.My dad wanted to sell the land because there was squatters on the land and two churches was already built on land without permission and you wonder who was minding the place.When I made an offer to a performance on the land Vana was so upset she was yelling and I said okay you have 6 weeks and she said she already had the money and we'll we waited and waited for the paper work.When I tried from May 2012 til Feb 2013 to get the lawyer to send papers yo sell the land she was making all kinds of excuses and we sent thousands of dollars for court cases and the land .The thing is after my dad passed away the first thing Vana said is remember that I'm the excutor on the Will and no one can go above me and I was do she said none of your kids can go above my head and this just to show she knew what she was doing .We'll after all that she said that the land is in her name and the lawyer who was supposed to be working for my dad was working for her and went against both my parents. Two convenient options: Pay annually and save - $39.50 per yea A cheque was released to to each person on title for a project (including my grandmother whom they knew was deceased) . My mother being executor & beneficiary of all his assets, we did not think probate was necessary, so no application has been made. Yes, I would expect that you would have to obtain probate to deal with the account, due to the high dollar value. He had a will.. All he did was tell the banks that she had terminal cancer,(one bank employee stated she was told, he was consolidating my mother's assets, she called their lawyer, who told them it was okay to give him the money) and they released the money, prior to her death. It's a fairly small estate, about 80k in RIFF's, chequing account. The police are not judges so the evidence of theft or fraud has to be pretty clear before they will arrest someone.You are right that it costs money to enforce your rights. I also used the C$ account to pay out the interim inheritances last year. 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. My mother passed away in April, and I met with her bank on April 26 primarily to be sure no further deposits were made. It's always a guessing game.The duty on the executors is to examine all options and go with what makes the most sense to them. Will I need to open an Estate Account? Apparently, they were under no such obligation, in fact the manager of one bank stated, that since my brother was POA, he could do what ever he wanted with my mother's money, and the first thing he did was put a couple thousand towards a loan payment (don't know to which bank - but it does mean they benefited). They have asked me if I would look after the estate and now have the lawyers are preparing the application to have me appointed as Estate Trustee. Your bank manager will be familiar with the process.If you do that, you can take control of the account, so you will be able to pay the taxes from it. If you waste or steal the estate, that's not on them; it's on you. 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. And I don't feel that I should be opening an account for this in my personal name. I am in BC. I don't know what you've got in mind when you mention recourse. I am paying their benefits to the court.Thank you for any help and advice. I also wanted to be sure her remaining bills were paid (less than 1K).In July I received a notice from one company that the account had been sent to a collection agency. You may not need to get probate. The bank has an account for which there is no online access? Paying out of pocket should be the last resort. In particular, the bit about being listed as executor per CRA. It should list there what paperwork they need. My father passed away. (I'm in BC). The bank now says I have to wait 6 months before disbursing to beneficiaries. This is because a grant of probate is an order of the court that indemnifies everyone who follows it. Giving Power of Attorney The reason we were fighting is because our understanding is that the Will should trump every other document completed before the Will. Complaining about this for months is absolutely unreasonable since it was your father who made the choice, not the financial institution. What is your question? Your estate includes what you own (assets) and what you owe (liabilities). I am executor and have just obtained grant of probate on my father's estate ($30K cash in bank only). My mother learned the hard way that her money was not as 'safe' in the banks as she thought. The RSP is not in the estate if it names beneficiaries. The will called for my sister and I to each receive 45% of the proceeds and the other 10% would be distributed evenly among my sisters two kids and my two kids. The only reason that some banks are still paying out joint accounts to the kids is that nobody has sued the banks yet. The bank will probably insist on having both signatures if the account is set up to require both signatures. It'll happen. She also signed up for internet service to manage dads estate. I'm also more then willing to walk away from the account if I can't close it. Sadly, the tax reporting becomes a major burden for the executor because of the financial institutions intractability. I am in a similar situation with no will for my deceased father.
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