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Ask Barrister Your Own Question
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 37040
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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What are the options executrix access to

Customer Question

What are the options for an executrix for gaining access to the deceased's bank fund. Is there a requirement to set up an Estate Account or are there other choices?
Submitted: 2 years ago.
Category: Estate Law
Expert:  Barrister replied 2 years ago.
Hello and welcome! My name is Barrister and I will try my level best to help with your situation or get you to someone who can..Once the executrix files a probate case and is formally appointed to the position of executrix, then they have the legal authority to take the order from the judge to the bank to take possession of any assets that were in the deceased's name..Once that occurs, they would then need to open an estate account to deposit the funds into so that any estate debts can be paid out of those funds..However, depending on the size of the estate, the executrix may be able to file a small estate affidavit to claim the funds without going through probate, but they would still have to be used to pay any debts before any heirs would receive anything..If you can tell me the size of the estate and what state you are in, I can tell you if this is an option...thanksBarrister
Customer: replied 2 years ago.
I am waiting for your call. The Estate is worth Approximately $500,000, which was willed to Executrix. please call,(###) ###-#### Emma Jones.
Expert:  Barrister replied 2 years ago.
I am sorry, but I can’t engage in a private one on one phone call as that could imply an attorney-client relationship which I am prohibited from entering into under my independent contractor agreement with JustAnswer..But if the estate is worth that much, then it is past the small estate limits in every state so it would have to go through a formal probate case in order for the executrix to be able to take possession of any assets...thanksBarrister
Customer: replied 2 years ago.
I have taken paperwork to bank, signed by Court Administrator (and stamped). What other action is necessary on my part?
Customer: replied 2 years ago.
Can he answer the question that I just submitted?
Expert:  Barrister replied 2 years ago.
If you have already been appointed as executrix, then the stamped order appointing you from the court would be all you need to submit to the bank in order for them to release any assets that they have in their control to you..But if you are referring to just the probate petition, then that is not enough to get them to release the funds. The petition is basically an application to be appointed executrix. But you aren't legally appointed to that position until the judge formally does so and issues an order stating that you are executrix. It is that order that you take to the bank to have them release the funds to you...thanksBarrister