QUESTION
How do I cash two estate checks if there is no estate?
Asked on Mar 12th, 2012 on Estate Planning - Wisconsin
More details to this question:
My father had no estate (that's anything under $50,000). I filed instead a transfer by affidavit to the office on the form. I got no reply back. I still have my fathers checking account open but it's not an estate account because there is no need for probate. The two checks equal under $1,000. One of them is an IRS refund, the other is a utilities refund. I am named in my fathers will as personal representative, and beneficiary.
2 ANSWERS
The Transfer by Affidavit should have listed all assets that were titled in your father's name, including his bank account and the two checks (the total value of all assets combined must be less than $50,000). Provided all assets were listed within the Affidavit, you may be able to bring the original Transfer by Affidavit to your father's bank, deposit the checks into his account, then ask the bank to liquidate his account and write you a check for the balance. If the bank will not deposit the checks, you will need to provide a copy of the Transfer by Affidavit to the IRS and to the utility company along with a request for each organization to reissue the checks in your name. If all assets were not included, you must first amend the Transfer by Affidavit before these institutions will assist you.
Answered on Mar 13th, 2012 at 2:04 PM
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Take the check to the bank, present them with the affidavit, the proof of mailing to Estate recovery, and they should cash the check. If your father did receive Medicaid, COP, or other benefits listed on the form, you will have to pay most of the money to estate recovery. If he did not, then you will need to distribute the money according to his Will.
Answered on Mar 13th, 2012 at 8:36 AM