Q: When my mother passed, she had some of her accounts TOD. I am executor. How do I handle them?
A:
Sorry for your loss.
An executor of a Will or PR of an estate has no duties with regard to transfer on death accounts. There are two large exceptions, first if the estate is subject to federal estate tax which is at about $5.5 million; and second if the beneficiary of the TOD account predeceased your mother (in which case the estate may have a claim to the account).
Generally, the person named files a claim or other form with the institution and attaches a copy of the death certificate. There is really no job for the executor since these accounts are not probate property.
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