What will happen if my mom died and I just found out that I was supposed to inform the bank of that and not touch the money in her account even if I’m her executor?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What will happen if my mom died and I just found out that I was supposed to inform the bank of that and not touch the money in her account even if I’m her executor?
She appointed me in charge of her bank account before she passed. I then had the power of attorney, and when she passed, I am also executor of her Will. She has a small amount of funds in her bank. I have been accessing her bank account to pay off bills and debts we left before I took her back home abroad to pass there. I want to know the right thing to do from here on.
Asked on March 9, 2015 under Estate Planning, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. First, a Power of Attorney dies with the person for whom it is enacted so it was no longer valid when Mom passed. But if you were named jointly on the account then you have no issues with moving funds or paying bills. How much is left in the account could determine what path you take now. If it is under $30,000 then you can probate a small estate and use the Small Estate Affidavit. I will give you a link to the court system online help as a start. If Mom had more assets then you will need to file the Probate Petition and the Will in Surrogate's Court. Good luck to you.
http://www.nycourts.gov/courthelp/diy/smallEstate.shtml
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.