I just received the Certified Letter approving myself as Personal Representative of the portion of my mother's estate that is subject to probate. I have all necessary documents including EIN. I want to add my husband to the Estate Account when I open it.
No you cannot add your husband to the estate account unless he was named personal representative as well. This is not a husband and wife account, this is an estate account and only the court appointed representative can be on the account. The bank would not even let you if you tried. Good luck.
I agree with Attorney James. You cannot do this with an estate account. It is only there while the estate is being administered and is then distributed to the beneficiaries. If you are the only beneficiary, the proceeds of the account can be distributed to you, once probate is closed. At that point, you can do whatever you wish with the proceeds.
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Never comingle funds! The Account is held in your capacity as Personal Representative of your mother's probate estate. While the eventual owner of the funds might be you as an individual and beneficiary, it is not yet yours. You are wearing two different hats. If and when the funds come to you, you can place the funds in a joint account.
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I agree with my colleagues. I wish to make one other point. It appears you do not have an attorney. Obtaining letters is just the first step in the probate process. If you wish to avoid costly missteps you should retain counsel and an accountant to assist you with administration so the estate can close timely and without penalty. As the personal representative you are now personally responsible for the proper administration of the estate. Good luck.
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Family Law Attorney
No, you can't do this and don't even try doing it.
No. You are the personal representative and cannot delegate your duties and must avoid self-dealing. Adding your husband would violate both duties.
Why do you want to add your husband? Who are the other beneficiaries? If you are the only beneficiary this isnt so bad but still is an issue. If you dont have an attorney, you should really hire one.
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