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Dear Customer, Who are the beneficiaries for your wife's estate?
I am assuming this but can not be certain... I am the executor
Unfortunately, as the only beneficiary of the estate, any assets in the account (or other assets in the estate), including those already in the account or those that you deposit in the account later, are subject to levy by your creditors.
Does your wife have any other heirs? (Children etc.)
Or did she have a will or other document?
yes 2 children
she had a will
Did the will specify who would receive the cash assets (or assets in the account)?
I think the proceeds passed to me and then I pass them to the children there was a step up in value for art and an appraisal at the time
I do not think there was any reference to cash accoutns or otherwise
The assets are subject to levy as you are the sole and primary beneficiary at this time, thus creditors are entitled to levy on your assets, including this one. (Unfortunately, the will would not alter the fact that any amounts you deposit after her death are still subject to levy as they are not part of her estate, the estate is created as of the time of her death).
pokay thank you very much