Can the executor of an estate withdraw funds from a decedent’s bank accountbefore the estate has been inventoried?
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Can the executor of an estate withdraw funds from a decedent’s bank accountbefore the estate has been inventoried?
Executor was a signatory on the account and withdrew all funds from the decedent’s account immediately upon learning of death of the account holder but did not include funds in the estate inventory. I know this is ethically wrong but is it legal?
Asked on January 18, 2012 under Estate Planning, Texas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Okay so what did the executor do with the funds because I am thinking that it is also illegal besides unethical. Fist you indicate that he was a signtory, not a joint account holder, so arguably he had no claim of right on the account. And as the executor he as a fiduciary responsibility to include all funds. I think that you should speak with an attorney about this matter. One not associated with the estate at all. Good luck.
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