QUESTION
Does a check made out to an estate of a deceased relataive with two heir's names on the check as well cashable?
Asked on Apr 22nd, 2021 on Wills and Probate - Florida
More details to this question:
My sister and I are heirs to the estate of our deceased older sister. Our sister did not designate a beneficiary to her 401k account so it falls to the estate. The check we received is made out to the estate along with C/O attached to our two names. Does this check designate us as beneficiaries?
1 ANSWER
2 Awards
No. It merely delivers the check, payable to the estate, to your care. You must open an estate through the court in a formal or informal proceeding and then, with an EIN number for the estate, open a bank account for the estate. The court-appointed personal representative can then pay the estate's debts out of that account and write checks for the remainder to the heirs.
Answered on Apr 23rd, 2021 at 5:45 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.