What to do if my mother just passed away and her Will made me the executor?
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What to do if my mother just passed away and her Will made me the executor?
All her assets were divided up between the 3 siblings, equally. She has a transfer on death deed with the 3 of us listed for her house. We plan on selling it. The only other physical assets she has is the furniture, personal and household items in the house. She has about $200,000 in CDs and $75,000 in an IRA in her credit union, with the 3 of us as equal beneficiaries. She owes absolutely no money. I’ve been handling her finances for months. Based on my research, the probate process is not needed. Am I right? Also, is there any legal things that I need to do?
Asked on January 2, 2013 under Estate Planning, Minnesota
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
It sounds like you are correct that no probate will be needed. You mother made sure that her assets passed outside an estate and successfully "avoided probate." You can check with a title agent or the county recorder, but I suspect that recording your mother's death certificate will transfer title from your mother to the children. You can contact the bank(s) and credit union to have them distribute the proceeds of her CDs and IRA directly to you and your siblings. If nothing else comes up, you have nothing else to do.
Please accept my condolences for your loss.
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