How do you close the estate account?

I had the same experience as FreqFlyer after I closed my sister's accounts. I don't recall the nature of the check, but it wasn't anything related to her Trust. I think it was some utility refund after reassessing some charges.

I couldn't get it cashed since it was made payable to her, so I had to return it to the issuer and request a check specifically made payable to her Trust.

This time around I plan to wait several months before closing out any accounts.

And this thread reminds me that there's a state account about which I'd completely forgotten. When I taught night school classes, they were paid by the municipality, which participated in state retirement funds. So there's some money sitting in a state account from the mid to late 1990s. I need to investigate this and see if there's anything worth getting monthly, or in a lump sum.

So were you the only beneficiary? If so then take the paperwork showing probate is closed and you want to close the acct. The cash will go to you.

If more than one beneficiary then this account should have nothing in it. Everything that was my Moms went into that acct and proceeds from selling the house. All taxes and leans were paid first at closing. The balance was split 3 ways, each of us getting a check.

Get the advice of an estate attorney before closing the account. You may even get a 'free' consultation.

Mike, don't be in a hurry to close out an Estate account. Just let it sit for a couple of years, you never know when a check may arrive for that person.

My boss passed in 2020 and the company had shut its doors, and just this week I received refund checks from the utility company due to the utility company over-charging [I was the forwarding address for my boss's company]. I forward said checks to my boss's son who was the Executor of the Estate. If the Estate account was closed, there would be no way those checks could be cashed.

If you are the executor and everything is paid, and by that I mean EVERYTHING, and if you have no more assets to sell and draw into the account, and certain there will be no more check refunds coming into the account, then feel free to close the estate account. Hopefully there is little in it if you have already filed the final taxes. With this final money in the estate account you do the division to the beneficiaries as directed. You are on this account as the executor. It is the estate account and what is done with it is directed by YOU as the "estate" and the "director of the distribution of the estate". If you are the only beneficiary, yes, you simple can cash it out and keep this with all of your records, writing in your diary or account book "Estate account closed; check(s) for ______ distributed to _________ as beneficiary(s) of estate.