I have a power of Special Power of Attorney dated September of 1995 naming me as Attorney-in-fact and a Last Will and Testament dated Feb 2006 appointing me as personal representative. I'm also a cosigner on my Mother's checking and banking accounts. My name is listed below hers on all documents including checks. Where do I start in order to distribute funds per my mother's request?
#1 Pay all bills due out of her account
#2 File her tax return for the current year, whether her estate be held in a trust fund or not.
#3 Give some time for additional bills to come in for payment.
#4 Ensure that her monument has been designed and paid for.
#5 After all is certain that there will be no more additional bills due, close out her bank accounts, while at the same time dividing remaining monies up to her children.
If your mom received Social Security and/or VA, and it was direct deposited, they may send notice to the bank for the return of funds, if she received a check after her death.
I lost my mother this past July 2016 so it is fresh in my mine. We had most of her assets made financial instruments with beneficiers attached so all we needed is a death certificate for us to cllaim an equal share. She got to keep her last social security check because she was alive the entire previous month. No so with the pension. She was only alive 3 days of July so had to pay back most of the last check. The funeral bill should come first, then the memorial and burial, then lawyer fees, probate costs, regular bills, then bequests, and the beneficieries last.
If you probate, that will be about $2000 to $3000 (they require it up front), but if she has property or (bonds, CDs, Annuity) not with your name (or no beneficieries) you may have no choice but to probate.
Sorry for your loss.
I'd suggest you find out the banking situation first. If the account is mom's, then the bank will likely "freeze" the account till ownership is determined & with court document (order). You will need to contact a atty &/or probate court to figure out just how to approach all this that is OK for your state.
Mom could well have died with debts. If so, those need to be allowed some way to file a claim against her estate, if they plan to do this. Just how claims are done, again depends on your states laws.
You will need to do Probate at the County offices before you can distribute anything in your Mom's Will. It is a bit of a maze so pack a lot of patience.
As for the bank accounts, you will need to check with the bank to see how it was originally signed up.