QUESTION

Can an estate bank account be levied?

Asked on May 26th, 2015 on Wills and Probate - New Jersey
More details to this question:
I am the administrator for a deceased relative who had no will, no assets and bank accounts had been levied. I received a rent deposit check in the deceased name after closing out the apartment. As the administrator, I tried to deposit the check in my account so that I could pay off funeral expenses but was told that I have to create an estate account. This is the only amount of money I have for this relative and paying the funeral expense will be the only transaction. Do I really need to establish an estate account for that? Also, can the estate account be levied because of the debts owed by my relative? I fear this money will simply be levied as with the relatives other accounts and I will have to scrape more money together for funeral expenses.
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
The estate account can be levied, but first a potential creditor has to file a proof of claim with the county probate office.  So you can open an estate account, cash the check , and pay funeral expenses legitimately.  There is a statute that governs estates that are insolvent, where there is more debt than assets, and it allows for payment of funeral expenses first. 
Answered on Jun 01st, 2015 at 12:36 PM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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