After taxes, I plan to close the estate account at the bank. Do you need to provide them anything to close it, or can you do it whenever you feel like it?
There will also be money left. Will they simply cash it out?
I went through probate and it is now closed.
I couldn't get it cashed since it was made payable to her, so I had to return it to the issuer and request a check specifically made payable to her Trust.
This time around I plan to wait several months before closing out any accounts.
And this thread reminds me that there's a state account about which I'd completely forgotten. When I taught night school classes, they were paid by the municipality, which participated in state retirement funds. So there's some money sitting in a state account from the mid to late 1990s. I need to investigate this and see if there's anything worth getting monthly, or in a lump sum.
If more than one beneficiary then this account should have nothing in it. Everything that was my Moms went into that acct and proceeds from selling the house. All taxes and leans were paid first at closing. The balance was split 3 ways, each of us getting a check.
My boss passed in 2020 and the company had shut its doors, and just this week I received refund checks from the utility company due to the utility company over-charging [I was the forwarding address for my boss's company]. I forward said checks to my boss's son who was the Executor of the Estate. If the Estate account was closed, there would be no way those checks could be cashed.