QUESTION
Do I have to set up an estate account if there is no will?
Asked on Jul 17th, 2020 on Estate Planning - Alabama
More details to this question:
My father died June 13, 2020. He had no real or personal property at that time. He did have two CD’s which had a named beneficiary, one life insurance policy with named beneficiaries and a jointly owned checking/savings account with his daughter (me). He has no debt except for a partial month’s billing for the nursing home in which he died. He was covered by long term care insurance which has issued a refund of premium and reimbursement of fees already paid made to the “Estate of . . .”. Is there any way this can be accomplished without setting up an estate account As these are the only funds in question?
1 ANSWER
2 Awards
You know better than anyone on this list whether there are any other funds in question. Many states have a less expensive probate for small estates. Whether this would be less than the refund of premium and reimbursement of fees is an open question. Talk with a probate lawyer in the county in which your father died.
Answered on Jul 18th, 2020 at 5:19 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.