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I have a question about estate inventory? |
I have been named personal representative of an estate. Right after the the date of the deseased I got a death benefit and put in checking. I used this for this for the estate bills and repair of the deseased's house. I didn't know at that time that everything must be run through the estate account. I told my lawyer about it later and he said to put the money back in the account immediatley. I did. Am I in trouble? No. A person who is named as a fiduciary should keep separate accounts and records. There should be no commingling of funds. It is sufficient that you moved the money into a separate account for the estate. The funds that you actually expended for estate purposes should be documented when you do your accounting, so keep records of such expenditures, copies of invoices, canceled checks and the like. |
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