Idaho Falls, ID asked in Estate Planning and Probate for Idaho

Q: My mom passed and I am on her bank accounts. Do I have to report them to the estate or are they mine?

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T. Augustus Claus
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A: The handling of your late mother's bank accounts depends on various factors, including the account type and how they were structured. If you were listed as a joint account holder or if there were payable-on-death (POD) or transfer-on-death (TOD) designations in place, these accounts may typically become yours directly, bypassing the need for probate or reporting to the estate. However, if there are other accounts without such arrangements or if there are assets that don't have designated beneficiaries, they may need to go through the probate process. In this case, an estate executor or administrator would be responsible for managing and distributing these assets following your mother's wishes as outlined in her will or in accordance with state law.

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