re: Banks and Estate Accounts

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Okay, but you didn't answer my question. What did they say as their balloon deflated? Was it, "I don't know how to do this" (likely) or "our bank doesn't handle these types of accounts" (unlikely)?

Or did the banker tell you, "You must have an existing relationship with our bank for us to handle an estate account for you"? If you don't have an existing account with them and they don't "know" you as a customer, you're asking them to provide a service to a non-customer. It's like you going to Rouses and demand they honor a gift card for Albertson's.

Also, estate accounts can be a bit tricky from a liability standpoint for the bank and much of the liability starts with they don't know you. Is that the case?

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I was at the bank we used for Uncle's normal accounts, and for my business accounts. They know me. I did the whole presentation never mentioning the word 'Estate,' But when they saw that on the check, they simply dismissed it with 'We don't handle estate accounts.'

As for heirs, there are none. All funds are going to charities, St Jude and the like. Chase did offer to write those checks for me, but there are some expenses (funeral home, sitters, an unpaid ER bill) that I paid out of my pocket I need to get back.

Not trying to air all this out, but when I agreed to handle his estate, I did not think it would be the grind that it is becoming.

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Not trying to air all this out, but when I agreed to handle his estate, I did not think it would be the grind that it is becoming.

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I feel you, it almost always is unfortunately

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Chase actually thought about it. What they were missing was a piece of court paper saying that I was the rep of the estate. But the Judgement of Possession dissolves the estate, so there is no 'rep.' Its inf

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The Letters of Administration/Testamentary shows the Executor of the Estate. That's the very 1st court doc needed to open an Estate Acct at a bank and starting depositing assets prior to completion of the JOP.

We do it all the time.

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The Letters of Administration/Testamentary shows the Executor of the Estate. That's the very 1st court doc needed to open an Estate Acct at a bank and starting depositing assets prior to completion of the JOP.

We do it all the time

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I used an attorney for the succession. There are no heirs, just charities. And I personally need to to repay some items I paid out of pocket - sitters, cemetery fees, etc.)

I agree that the banks are looking for the "Letter Of Administration' with my name on it. But with the way was done, that important paper doesn't exist.

The JoP says there are no issues with the succession and it can proceed. But with a JoP, there is no estate, so no letter of admin is applicable. And when banks see checks written to the 'Estate of,' they wrap up the meeting pretty quickly.

Have another bank meeting Monday, and will try this again, much of it based on good advice from folks here.

I am extremely grateful to you all.

I'll give you 40% if what its worth.