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If one adult child goes into a bank to close deceased parents checking account does bank have to tell other children who picked up the money?
Wiki User
∙ 15y ago
An adult child cannot close the account unless they are a joint owner of the account. If they were placed on the account for purposes of convenience then they are legally obligated to share the funds with all their siblings equally. If they did manage, somehow, to close the account without being a joint owner their actions would be illegal and they would be stealing.
If there is any property in your last surviving parent's estate that was solely owned by them then you need to probate the estate in order for someone to be appointed the administrator. That person will have the authority to close the account and distribute the remaining funds.
Wiki User
∙ 15y ago
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How does a fatcat account work?
A Fat Cat Account is a bank savings account designed for children. The parents can open the Fat Cat account for the child, then help them learn about saving money and using a bank account.
Are children responsible for paying back taxes owed on deceased parents house in Michigan?
The estate of the deceased is...of course that may essentially be simply a reduction of what the children would get. But the tax does not go away..the property owes it and if it must be sold to collect it, by the estate (or the tax jurisdcition), it has to be, before clear title can go to anyone else.
Is a child liable for a parents failure to file taxes?
No. A child cannot be held responsible for the actions of their parents.Exception to the rule: If the children are heirs of an estate (both parents are deceased) and taxes are outstanding, then the taxes must be paid out of the estate proceeds before the child(ren) could be awarded the residuals.
If you are the power of atty for your parents and your sister is the Executor of estate stole their credit credit card and the home they owned has been transferred to children who is responsible?
If your parents are deceased the Power of Attorney expired when they died. It is no longer in effect. If your sister used their credit card after their death then she committed a criminal act and could be prosecuted. Her use of the crdit card has nothing to do with their estate. She is responsible for her actions. If she charged on the account after your parents death, the credit card company can't attach the real estate you inherited. They would need to bring charges against your sister. You should cooperate by providing them with any information you have that would help in their investigation, where they can find your sister and the circumstances that enabled her to use your parents credit card (her being the executor of their estates).
How can you obtain very old tax return records of deceased parents?
can i abtain a work history through irs for a deseased parent
Who gets a deceased parents money in the bank account?
If there is a will, then the beneficiary gets the money. If there is no will all the children of the decedent get an equal share of the money.
Social security benefits for children with a deceased parent?
yes the children with deceased parents get social security benefit's. but only if the parents were workers in the US.
What bank accounts can you get when 11-12?
You can get a savings account, and with your parents help even a checking account.
How do children get access to their parents' bank accounts if their parents die while on holiday?
If the person is not on the account they cannot access the account. All assets and property of deceased persons become a part of the estate as do all debts and are handled in accordance with state probate laws.
Are the children in the state of Florida responsible for a deceased parents medical bills?
No, they are not
Do the children have to pay the debts of their deceased parents?
If you were not a joint debtor you are not responsible for repayment of deceased parent(s) debts.
Are minor children responsible for deceased parents debt in Louisiana?
No. The age of the children is not relevant unless they are adults who entered into a financial agreement with the parents. For example joint holders of a credit card account. The estate of deceased person(s) is responsible for paying any debts in the manner prescribed by the probate laws of the state where the person lived at the time of their death.
Are children of deceased given priority over mother of deceased?
Yes, children have priority over the mother of the deceased. They are the descendants it get priorty second only to a surviving spouse. Even without a will the spouse will come first, then children. Parents are next, then siblings.
What is a children's bank account?
A children's bank account is usually a custodial savings account. This type of savings account allows parents to save money for their children's futures.
Are children resonsible for their deceased parents' debts in Virginia?
The estate will be responsible, not the children. They will not be able to inherit until they are resolved.
Are children responsible for deceased parents dental bills in Oregon?
The estate is responsible for all the debts of the deceased including dental bills. The children are not required to pay them from their own pocket.
Are a deceased parents doctor bills the responsiblity of the children?
The estate is responsible for all the doctor bills of the deceased. The children are not going to be required to pay them from their own funds, but it will reduce what they inherit.
