Blog: Checklist

An executor walks in with a folder of papers, a death certificate and a question: "How do I open an account for my mother's estate?" Handled well, this becomes a clean fiduciary relationship. The bank knows who has authority, the account carries the right taxpayer number, and every dollar in and out can be traced when the estate closes. Handled badly, it becomes an account opened under the decedent's Social Security number, a signer whose authority was never checked, and post-death federal ...