Thursday, July 14, 2011

Probate Update

Thought I would let you all know what is going on in my wonderful world of legal dealings LOL

I opened a bank account for my mom's estate. I worked with the very helpful Karen at Bank of America and we followed the bank's for for opening estate accounts to the letter. I opened it with my mom social security number.

The law clerks who previously worked with me from the law firm left so now I am working with the amazing Angela. I sent her some paperwork she needed.

I listed my house at 3:30pm on a Friday and by 6 that day the realtor had a call from someone interested. She met with him at the house the next morning and he put in an offer which I accepted. It turned out to be a guy I went to high school with!! A couple more offers came in, which were not as good, but he upped his offer anyway. I accepted again. Lots of faxing of paperwork going on there!

So then we entered Escrow and started working with the wonderful Ramona. More paperwork!! One of the forms wanted an estate tax id number. I asked of I could use my mom's tax id number and she told me to check with Angela. Turns out that I needed to get a tax id number for the estate and that was what I was supposed to use to open the bank account. Oops. We got that right away. It also turned out that my mom never got my dad's name removed from the grant deed to the house so I needed to sign an affadavit for that AND send in his death certificate.

I finally had everything I needed so I printed out the forms I needed to redo and sihned and initialed and everything. Had to take 2 things to be notarized(guess which ones!) at the bank so I also asked about getting the tax id number put on the account. Turns out I had to open a whole new account. Karen helped me again (along with 2 other people. I LOVE that bank!!) and notarized my paperwork. I overnighted everything to Ramona ($25!!).

And that is where we are at now!!! Hopefully soon we can do the final accounting on the probate and everything will be DONE!

Lessons learned --
1. You must get a tax id number for the estate and use that to open an estate bank account.
2. If the person on the grant deed to property with you dies, get them removed immediately!! Don't leave it to your heirs to do 20 years later.
3. Overnight delivery with the post office is expensive.

1 comment:

That corgi :) said...

That is wise advice you gave with probate. I won't have to do probate for anyone but my hubby I guess (maybe we should get a will) as my parents have already passed and didn't have much.

I'm glad to hear the house is in the process of being sold! That I am sure is a big relief!

betty