Opening an Estate Account?

Answer

An estate account is opened when a person passes away and is just like a regular checking account where checks can be written. The account can be used to settle any outstanding debts a person has and any costs incurred from settling an estate. The executor is in charge of the account and has to make sure everything is taken care of prior to the disbursement of funds to the beneficiaries. The time it takes to settle an estate varies.
Q&A Related to "Opening an Estate Account?"
1. Obtain a taxpayer ID number from the IRS issued in the name of the estate. You can apply to the IRS for a taxpayer ID number using the IRS website or by using an IRS Form SS-4
http://www.ehow.com/how_7385751_open-estate-checki...
You can open up a savings account by going to any local bank. You will be required to show a drivers license and provide your social security number.
http://answers.ask.com/Business/Finance/how_to_ope...
There are several reasons. First, the executor is required to collect all assets of the decedent quicjkly and this usually entails liquidating existing bank accounts and securities,
http://wiki.answers.com/Q/Why_you_need_to_open_a_e...
Finding a checking account that's adequate is easy enough. Banks long ago mastered the basics of recording our deposits correctly and sending bills that aren't confusing. For this
http://www.life123.com/career-money/credit-debt/ba...
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1. Obtain a taxpayer ID number from the IRS issued in the name of the estate. You can apply to the IRS for a taxpayer ID number using the IRS website or by using ...
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