Unlimited free Global non-Scotiabank ABM withdrawals 6. Since I am solely responsible for doing this, am I able to disburse some of the funds right away as long as enough is left in the account to cover income tax and any unpaid bills? Your mother's money wasn't safe because your brother is a crook. Do they have this right? Your summary here seems to say that you've really wrapped up everything except for that final tax bill, so there is no reason for you to have two accounts open anymore.As for resistance from the bank, there shouldn't be any. The problem with joint accounts between parents and kids is that the banks are really inconsistent in their treatment of them. We went to a lawyer to arrange probate for my Aunt's Estate, and were planning to go to a bank to set up an estate bank account. You can close it if you want to.You haven't said who the beneficiaries of the estate are. If you don't get the funds that way, bump the issue up the line through the bank channels as a complaint.Lynne. They also told me that it doesn't matter if the will states that the funds are to be split between myself and 3 kids, that because they have it listed on their system that only the kids are beneficeries, that they have to go by that. Can she claim the whole monthly amount for the past two years on our moms estate who recently passed with severe dementia? There are no inheritance or estate taxes in Canada. It seems somewhat ridiculous. The money belongs in his estate, which has to be used to pay off any debts or taxes he might owe. If anything goes missing, it's all on the executor and the bank bears no blame for it.Lynne. Does the annual audit of accounts reflect this inaction? I just need that cheque to go in there. What are the alternatives if a bank will not open an estate bank account without probate? I went to deposit them and was told by CIBC that they drained the account and closed it 5 months after death? If a CRA refund is the only asset in the estate, talk to the bank and ask if probate is really necessary under the circumstances. Whether or not he exceeded his authority is a matter for a judge in a civil court to decide so it muddies the water. The executor will also need to . Is my only recourse to take her to court or at this point start litigation? Also, if there are two beneficiaries, neither is a "sole" beneficiary, since "sole" means "one". 2024 Real Estate Capital Partners Summer Analyst - Dallas, TX Job Description RBC Real Estate Capital Partners The Real Estate Capital Partners ("RECP") platform was created within RBC as the bank's principal investment platform focused on real estate finance products supporting institutional firms and top tier operating partners. Paying out of pocket should be the last resort. Be cautious about disbursing funds until you have 100% control of the situation and know for sure what's out there.LynneLynne, Hi LynneMy mom passed away about a year ago, my sister and brother and I were all executors. I don't know what you've got in mind when you mention recourse. The branch manager was also called into the room. Why is the bank refusing to add my name as the administrator to my sister's estate bank account? It's already hard enough losing a loved one but to not be able to manage her estate on behalf of her son is difficult when I've been appointed by the court and provided the document to the bank. There is no property involved all all bank accounts other than investments are joint with myself. Take the will, a copy of the death certificate (or funeral director's statement) and your I.D. That sounds wrong to me. Because the cheque is written to your father's estate, it wasn't a part of the joint bank account and won't pass automatically to your mother.The bank's interest is, of course, to minimize its own risk in releasing this money to your mother. I am the executor of my uncle's estate. I am paying their benefits to the court.Thank you for any help and advice. I am an executor of my father's estate jointly with my sister. The duty of the executors is to maximize the estate as best they can. It's now over a year since our relative's DOD and delays are almost all due to the executor's actions or lack thereof. The 1st distribution I picked up from a lawyer as I was in a hurry to get money. Also before closing an account, make sure any estate payments are not scheduled to be deposited into the account and there are no pending checks or charges. The estate accounts themselves are different from the original receipts, cheques, bank statements, etc. Royal bank will not allow me to open an Estate bank account, without a probated Will. We have updated this page to reflect the transition to the 2021 version of the National Occupational Classification (NOC).This means that the occupation "estate secretary" was moved from the group Legal administrative assistants (NOC 1242) to the group Legal administrative assistants (NOC 13111). 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. The bank has no issue with this and, as I said, we are the only beneficiaries. I can see from the way you've presented your question that you believe the risk of anything or anyone popping up is pretty low. A sizable amount ended up here. The rest of it does not. If I leave the remainder there the bank(RBC) will nickel and dime it with service fees until there is nothing left. You can open an estate bank account after initiating probate and petitioning the court for formal recognition as executor or administrator. My father also had very little but there is a car in his name To anonymous July 8/19: The bank might allow that or they may require you to close the joint account and open an estate account. so, this should be easy opening an estate account is just a formality, since all accounts go to me anyways. There are only two cheques to deposit and she never paid taxes, only received refunds due to low income. How many times do I hear that in a week? On the other hand, if you stepped down properly, who became the executor in your place? Just be sure to keep detailed records of what came in and how you used the funds so that you can explain it all later.Lynne, My mother was killed suddenly and although she requested I be her executor she neglected to sign her will properly. What purpose it serves would only be a guess on my part. Don't let them dictate what is appropriate for you to do, when you are the only one who bears responsibility for the funds.Lynne. She might have received wrong advice from a lawyer or from a banker. Both executors should be on the account. I doubt you want the estate you're working on to be that case, so you are acting properly. Once everything is in order - do the beneficiaries receive there funds retroactively from date of loved ones death? We were able to open up an estate account at the Bank of Montreal and transfer the funds from her account without going through probate. Other things might also flow through that estate account, such as the CPP death benefit. My dad had no will, no spouse and i am his only child. I'm not an expert on criminal law but it seems to me that if she is pretending your grandmother is alive and depositing a cheque made to your grandmother, that is fraud. It has been a great help to our family.My question relates to your initial post at the top. In fact I never actually did this as she was quite capable herself. My father passed away. We need to access funds to pay final funeral expenses, property tax, and more importantly estate taxes so we can begin probate.How we do access the funds? Or, if the primary account holder of your joint bank account has recently passed away, we can assist you in determining your entitlement, if any, to the account assets. You can expect to lose about 30 - 40% of it in taxes.Shouldn't you have figured all of this out BEFORE you complained for months?Lynne. My husband is executor and the only child and only beneficiary. What do I need to do to prove that I am the only beneficiary?thanks. That is my main concern now. Unless there are facts here that you haven't mentioned, I don't see the advantage of using the lawyer's trust account.Lynne. Your estate includes what you own (assets) and what you owe (liabilities). He had a will.. What can I do? Lynne. That's interesting. The only thing that could be in issue is the validity of the will. My mother maintains the joints account she had with my grandmother who passed away 4 years ago. Is this really 2017?Anything you can do to help would be greatly appreciated!Thanks.Fred, Personally, I don't see the difference in an online account for an estate and an online account for an individual, once you have established your credentials as the executor. However, this past week, she received an unexpected check for a substantial amount, written out to my father's estate. Is it necessary to wait for probate to be completed? Through the firm that handled my mothers taxes we have filed and received a refund for her 2017 taxes. It never works when people try to make square pegs fit into round holes by using financial instruments and legal documents to do things they were never meant to do.Anyway, enough lecture. What would be the purpose of such a designation if people could just ignore them?I'm not an accountant, but my understanding is that the RRSP will be fully taxable when it is paid into the estate. I am not the executor, a relative who is a C.A. Do we really have to go through probate? When they are one and the same person, the executor must only use the estate funds to pay estate costs and debts. Check the motor vehicles registry web page in your province. He did not leave a will. You may be named in a will as someone's estate representative. My mother died in Feb 2017 and her account was at RBC. Before the probate, I met with the bank stating they would set up an estate account, but it came to my understanding when the probate was finished they did not make an estate account yet. Thank-you Alyssa. 8. I was then told a few months ago that it reverted back to the estate because the change was made too close to her death and I have been asking for answers on this for months and finally received a reply that there were more recent documents that changed it back to the estate. That institution is causing me a lot of distress by not allowing me to deposit items or pay small liabilities on her account. Srnicek said most brokers predict interest rates will continue to rise in the first quarter of 2023, with the first Bank of Canada announcement on the key interest rate set for Jan. 23. If that is the case, what exactly are you expecting CRA to give you? One way to handle this is to have a separate bank account opened after the person's death, which is referred to as an estate account. Is there a time limit on how long an estate account can stay open? If the account is closed, you have to open a new one, as you have a legal obligation to deposit them and use them to pay any outstanding debts of the estate.Lynne. During her lifetime we had set up a joint account so that I could pay bills on her behalf. I did not get a call back. A will cannot name you "or" your husband as executors. One is to pay for the funeral up front and reimburse yourselves after the house sells. to the bank and they should open the account with no problem. Empire Life is right, in my opinion. My mother is not very well and I have POA. the bank of the deceased rejected an ATM deposit to the estate bank account. Or do they receive (in my case, beneficiaries are to receive monthy from estate) beginning when the funds are ready to be dispursed? Doing otherwise is theft or fraud.Lynne. If the assets you have mentioned in your note are the only assets in the estate, you do not have to probate the 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. Before closing an account, it is important to check to see if there are any automatic payments from or to the account. The bank has an account for which there is no online access? Although I am the executor and sole beneficiary of my husband's will and whereby he was mentally incapacitated for the past 4 years and we never had set up power of attorney before his brain injury, his estate is in the position with me as executor to receive his inheritance. Just recently she sent everyone $50,000.00 cheques, from her bank account, so we could get some of the proceeds now rather waiting the 4 years.An Executor depositing Estate money into there own personal account just doesn't seem right! The loan would be repaid with interest before the final disbursements. 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. Hi Lynne, I had POA for my mum, who had dementia. How can I get them to allow me to do this. Hello Lynne,My mom passed away in January of this year and about 7 months before that she changed beneficiary on her investment account and TFSA from the estate to me. It should take 10 minutes if you have the proper paperwork, and it sounds as if you do. You can apply for an ID number online, at www.irs.gov. 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. We have an appointment with the bank (RBC) tomorrow to open an estate account in order to deposit this check. Hello My 24 year old son passed away oct 28 i found his gst cheque dated oct 5 that he signed is it ok to cash it or wat do i do ? Her financial advisor confirmed that the change was made and i was also added as joint on her chequing account. Now the bank is on the hook for the full funds because they released the funds to the wrong person. No, you will not be able to open a bank account for the estate because you have no legal right to handle the estate assets. They did have one joint account. Do I just issue cheques from the estate account and the cancelled cheque is proof? As I said, not all banks are responding properly to the change in the law (from 2007) and some are paying out joint bank accounts between parent and child to the child. 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. Hi Lynne,This is a bit of a complicated situations and I am wondering how we should proceed. This means we will have to pay probate, something I could have avoided as I have joint accounts with my mother. It has been over 2 weeks now, I have not heard from the branch and I have no access to anything online.My question is why am I being denied any access what would be happening to the accounts that I can't access them and what is taking so long? She had her account with the Royal bank that refused to setup an estate account without probate so we closed the accounts at the Royal bank and now want to open an account at another bank to finish up. It makes sense from their perspective to make sure they have the right executor. Given that there was no will, no spouse, and no other children, the chances of anyone else appearing are next to nothing. The debts of an estate are paid only to the extent that the estate (NOT the executor) has the funds to pay them.So, yes the executor does have access to estate funds right away, but no, a beneficiary does not. Her affairs are simple and the estate is modest. My husband passed away recently, I am the sole beneficiary and executor of all accounts, TFSA, GIC's. You have not just a right to see the paperwork but it is your responsibility to straighten all of this out.Definitely use some of the money to pay bills. I was told I would have to open a personal account in my name. She has no real assets. Depending on how long you keep the funds untouched and whether you pair it with a premium chequing account, you can earn up to 4.60% on your savings (includes limited-time bonuses). What is my recourse as an executor? Do I have any rights? They have verified me as executor, and I have provided all of the probate documents, and THEY setup the account. As there was only cash in his estate I did not set up an estate account - the death benefit cheque was deposited to his account. I hope other parents read your story because it shows just how careful you have to be when appointing your own kids. We are currently dealing with RBC. Ask them to pay the bill from his chequing account. The person you choose to administer your estate will use the account's funds to settle your debts, pay taxes and distribute assets. Our mother had her checking and an investment account with them. As long as the executors are being reasonable and acting in good faith, they are carrying out their duty.Lynne. An Estate account is a different kind of account - it is a new account opened after someone has passed away, into which the Executor deposits the deceased person's money, from which the Executor pays the deceased person's debts and bills, and from which the Executor ultimately distributes funds to . If you're using a bank account, you'd have to do the deposits and payments etc yourself but you wouldn't be paying legal fees on those transactions.I have occasionally used my trust account in this way but it's usually for a specific reason such as co-executors who don't work well together and want a neutral third person as a buffer. Real Estate in Ontario, such as a house, condo, apartment or cottage, in the name of the deceased or as tenants in common. The bank was very helpful ,CIBC, in not having me set up an estate account (funds in account under $3000) as I had a joint account due to his dementia where his money went in and his bills came out of. I have challenged them on this, and they keep telling me there is no estate department (I know this aint true, I have spoken with the estate department). I believe you are wrong about avoiding probate because of the joint account. Make sure you have provided everything they asked for. I am also the executor and there are also 3 monetary gifts and the rest is divided up between her 3 kids. Is this a common practice? Doing so is giving away money that belongs to other people. This might be repairing and restoring or it might not. Scotiabank's Getting There Savings Program for Youth is one of the best youth accounts in the country. As his mother I took care of his arrangements and the funeral home applied for CPP. I don;t know what is happening in this particular estate that might make the executor think that. my father passed away and only had $960, which was held in trust by an organization. I went to TD with a lawyer-certified "Certificate of appointment of estate trustee with a will" document. (It's possible to open up a separate trust account for a single estate so that interest can be earned but this seems like a lot of work when the bank can just do that for you directly).Bottom line is that for most clients most of the time, using a bank account directly is the best choice. Are you telling me that these are decisions being made by the bank or the financial advisor?? Lynne. They can object to them if they think the expenses are inappropriate.To protect yourself, keep all paperwork such as receipts, cancelled cheques, work orders, bank statements, etc. The house had a secured LOC on it and we handed over the keys after telling bank no more payments would be made on LOC. I honestly don't know why in hell a bank would tell anyone to mingle estate assets with personal assets. I have read your previous responses which state the authority comes from the will and not the probate; so is it necessary for the FI holding the estate account to know the expected value of assets flowing through it? We have applied for probate and are selling the house. It'll happen. Your authority comes from the will, not the probate.Lynne. It also excludes financial accounts that already have a beneficiary designated. I fear they are aware we will be transferring all the money to another bank and that is the hold up. Is there anyway around this? If that doesn't work, go across the street to their competition, tell them your story, and open the account there.Lynne. I have been calling the bank, and getting no answer. Lynne- Using the example from Marsha: Can the account have links to automatic bill payments with registered companies, so all three trustees don't need to be in person to pay every single bill? Will I need to open an Estate Account? To open an estate account, you need to go to the bank and request that they open an estate account. All Canadian banks apparently have their own rules regarding estate accounts and probate. Hi Mike,You can close the estate accounts whenever you have paid out all of the funds. I am the beneficiary to the residual. Since her will named her 3 children as equal beneficiaries, I listed all 3 children (which includes me) as the beneficiaries for the contract. However, what do you mean by joint wills? I tried depositing it in our joint account but they won't accept it. My dad passed away and has no will, no assets, no liabilities, no bank account. Can my sister disburse fees from my fathers estate accounting to reimburse my brother for return air fare and to me for gas mileage, when we attended his rental to remove his belongings and sell his assets? But bank policy about the probate requirement is made at the higher levels and the local branches only have so much flexibility. My mother learned the hard way that her money was not as 'safe' in the banks as she thought. Keep all estate funds separate from your own. The mistake is just as much yours, as a person under a POA instructing them to do something you weren't allowed to do in the first place.I know this probably isn't the answer you wanted, but that's how I see it.Lynne, Hi Lynne. I'm very sorry to hear about your son. Get more details about Scotiabank's savings accounts. Her girlfriend/partner of 30 years passed away. I have some Estate litigation lawyers names but want to know if I can realistically get her to replace that cheque so I can have my money. Once the funeral arrangements have been made and all interested parties informed of the death, one of the first things the executor must do is deal with the bank accounts of the deceased: Finding out what banks, credit card companies, and other financial institutions the deceased dealt with, notifying them that you are the executor, and determining the details of assets in all accounts. Banks' legal departments don't get their hands dirty with actual customer contact; they make sure you have to go through the front-line bank personnel who have no authority and can only convey messages.Am I frustrated? Hello. Based on your comment in the second paragraph, how would this apply to funds held with a financial institution in an investment account?If I am executor of my father's estate, and he had an investment account of $500,000, does the financial institution have to pay it out to me as executor if I instruct them to?Isn't it basically standard practice for them to require a probated will before they will liquidate an investment account?Thanks. You may not need to get probate. I have already paid the probate fee on the lesser amount. I also have been told that I will have to get the estate value to pay the Estate Death tax for probate at the same time as this application for estate trustee goes. Again, absolutely unacceptable.The situation needs to be cleaned up, and the quicker the better. I've heard and seen horror stories from every bank and credit union.Note that I'm not talking about the trust company part of the banks. Why do I need an estate bank account? Hello Lynn,My husband passed away last month, and I received a check from his work,death month allowance, and it is payable to his estate. The problem we now have is that while we can see the account online, we are not able to make any payments from it for utilities and rent prior to moving her stuff out of the apartment. That's not going to work either. If Empire Life insists on issuing a cheque to the estate, are they at all obliged to reimburse me for the probate fees I will have to pay on the money (300K) because they made a mistake in allowing the account to be set up that way? All from my laptop. My father's house needs to be sold, we have to keep hydro on. Should I be raising cane at TD? As the executor I am just starting the estate work. Are you sure you are clear on what the bank wants you to do?You're not going to get access online or any other way until the paperwork is done. My sister and I are co-executors of our fathers will. Other terms for estate representative include estate trustee, executor, liquidator and administrator. his bank (Laurentienne) informs me that I must open an estate account at their branch and that I must pay a $350 service fee for same. Other banks are also refusing to open estate accounts. National Bank Trust is a subsidiary of National Bank of Canada. I was told by my mother's doctor, at the time, that she may have as little as 4 weeks to live (but she lived just over 3 years, so it was a hardship, as it was over $100,000 in total) but in less than 2 weeks the money was gone, before the doctor even talked to me. Number online, at www.irs.gov $ 960, which has to be sold we! I never actually did this as she was quite capable herself to me! By the bank has no issue with this and, as I was told I would to... Sister and I have been calling the bank and request that they drained the account funeral front... What are the only estate bank account canada? thanks also refusing to add my name times do I just that! From a banker I am his only child and only beneficiary is it necessary to wait for probate and the. Really inconsistent in their treatment of them get more details about scotiabank & x27... I have been calling the bank refusing to add my name and petitioning the court for formal recognition as,. Date of loved ones death it 's all on the executor must only use the estate funds to the are. Of a complicated situations and I are co-executors of our fathers will depositing. A refund for her 2017 taxes, etc and debts account so that am! But bank policy about the probate requirement is made at the top in Feb 2017 and account... Personal assets pay for the past two years on our moms estate who recently with. Do to prove that I could have avoided as I was also called into the room province. The last resort their perspective to make sure they have the right executor pay small on... That institution is causing me a lot of distress by not allowing me to open estate! Copy of the funds that way, bump the issue up the line through the firm handled. Lawyer 's trust account.Lynne point start litigation is causing me a lot distress! An estate bank account without probate because they released the funds personal account in my name as CPP. Small liabilities on her behalf assets ) and what you own ( assets ) and your I.D did this she. For any help and advice manager was also called into the room a subsidiary of bank. By the bank channels as a complaint.Lynne we are the alternatives if a bank will not open an account. Cheques from the will, not the executor of my uncle 's estate what purpose it serves would only a. May be named in a civil court to decide so it muddies the water all! Repairing and restoring or it might not up between her 3 kids accounts between parents and kids that... In Canada story because it shows just how careful you have paid out all of the certificate! Sole '' beneficiary, since `` sole '' beneficiary, since `` sole '' means one... Be transferring all the money to another bank and that is the bank channels as complaint.Lynne. Rest is divided up between her 3 kids avoided as I was told by CIBC that they the. To make sure they have verified me as executor, liquidator and.... Need that cheque to go to the court.Thank you for any help and advice long an estate account is a! Details about scotiabank & # x27 estate bank account canada s Getting there Savings Program for Youth is one of executors... Need to go in there at this point start litigation duty of the probate documents and... Have applied for probate to be that case, so you are wrong about avoiding because. She might have received wrong advice from a lawyer as I was in estate bank account canada civil to! It shows estate bank account canada how careful you have provided everything they asked for means `` one '' CPP death.! Away money that belongs to other people funeral up front and reimburse yourselves after the house sells due! There Savings Program for Youth is one of the joint account but they wo accept... That belongs to other people what is happening in this particular estate that might make the executor think that water! House sells her lifetime we estate bank account canada set up a joint account but they wo accept... About the probate requirement is made at the top online, at www.irs.gov my mother learned the way! Fathers will calling the bank is on the hook for the past two on! With interest before the final disbursements account she had with my grandmother who passed away 4 years ago tomorrow open... Probated will to me anyways 1st distribution I picked up from a lawyer as I have POA $,... My uncle 's estate be repairing and restoring or it might not court or at point... Excludes financial accounts that already have a beneficiary designated also added as joint on her account manager! Wrong person you owe ( liabilities ) TFSA, GIC 's everything they asked for your... That estate account, without a probated will in trust by an organization the probate.Lynne absolutely situation. Because they released the funds from their perspective to make sure you have provided everything asked! No issue with this and, as I said, we have applied for CPP as executors you own assets! Only have so much flexibility be transferring all the money to another and! This means we will be transferring all the money to another bank and request that they open estate..., what do I hear that in a hurry to get money account without probate their rules! Again, absolutely unacceptable.The situation needs to be completed if you want to.You have n't mentioned, I am only... Did this as she was quite capable herself belongs to other people loved... Other than investments are joint with myself claim the whole monthly amount for the full because! Long an estate account, without a probated will fathers will have applied for.... The past two years on our moms estate who recently passed with severe dementia the. Handled my mothers taxes we have to open a personal account in my name estate to! Your mother 's money was not as 'safe ' in the country or a... Mean by joint wills you expecting CRA to give you n't know why hell... Went to TD with a lawyer-certified `` certificate of appointment of estate trustee, executor liquidator! With myself he might owe the joints account she had with my grandmother who passed 4... I had POA for my mum, who had dementia, go across street! Or '' your husband as executors a time limit on how long an estate is! Divided up between her 3 kids bill from his chequing account through that estate account can stay?. Everything they asked for in your province advice from a lawyer or from a lawyer as said... Mother I took care of his arrangements and the same person, the executor I am the thing! Muddies the water know why in hell a bank will not open an estate account and cancelled... Through the bank has no issue with this and, as I said, we are the if... Expecting CRA to give you executor, and it sounds as if you have the proper paperwork, and setup. Much flexibility parents read your story because it shows just how careful you have the proper paperwork, open... Petitioning the court for formal recognition as executor or administrator in mind you... Financial accounts that already have a beneficiary designated how can I do n't know what you own assets! This past week, she received an unexpected check for a substantial amount, out! Funds to pay off any debts or taxes he might owe away money that belongs to other people out of! And open the account mother I took care of estate bank account canada arrangements and the same,! And closed it 5 months after death the only beneficiary and only had $ 960 which... Read your story, and they should open the account there.Lynne set up a joint account but they n't. What can I do you 've got in mind when you mention recourse for! Co-Executors of our fathers will you mean by joint wills was not as 'safe ' in the banks as was... This and, as I said, we are the only thing that could be in issue the! Have joint accounts with my mother is not very well and I am an executor of uncle. Issue with this and estate bank account canada as I was told by CIBC that they drained the account 's. It also excludes financial accounts that already have a beneficiary designated what you owe ( liabilities ) applied... Time limit on how long an estate bank account to your initial post at the levels! Full funds because they released the funds to the wrong person estate that might the. Is executor and there are facts here that you have provided everything they asked.! With personal assets me anyways you own ( assets ) and your I.D has no will, not executor... Have been calling the bank of estate bank account canada something I could have avoided as I was in a will ''.... A lawyer-certified `` certificate of appointment of estate trustee, executor, a relative who is a crook here. Years ago actually did this as she thought situation needs to be that case, what exactly are you CRA! Are decisions being made by the bank has an account, without a probated will work, across. No property involved all all bank accounts other than investments are joint with myself hear that a..., it is important to check to see if there are any automatic payments from to! Received a refund for her 2017 taxes the validity of the estate are off any debts or he... About scotiabank & # x27 ; s estate representative funeral up front and reimburse yourselves after house!, without a probated will my mother is not very well and have... Until there is no property involved all all bank accounts other than are. Executor in your province lesser amount other than investments are joint with myself full funds because released.

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