Lindsey C. asked
My 90-year-old mother recently passed away. She is due a tax refund, and her accountant suggests opening an estate account for the deposit. However, her credit union account is still active for paying her bills. Can we deposit the refund into her existing credit union account, or do we need to follow the accountant's advice? Additionally, her house has a reverse mortgage, and we are considering either selling it or letting the bank foreclose. If we sell, does it require probate? If we let the bank foreclose, are there any legal repercussions? Also, what responsibilities does the executor have, and what are the implications of the accruing interest on the mortgage?
October 3rd, 2024
Jared G. answered
Legally, the accountant's advice to open an estate account for the tax refund is correct, but you ca...
October 3rd, 2024
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