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Executor accounts,how would you make payments from one?
wilkko73
Posts: 127
Forumite
I know I'm getting ahead of myself but I'm wondering if I'm made to set up an executor account when I handle mum's estate how are debts paid from that account for example my mum has an outstanding care bill.with a normal bank account you could pay a debt by a cheque or debit card or online but how would you physically do it with an executor account?
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Can we combine wilkko's threads? As responders aren't going to know about the others opened in the last week.
There is no need for an executor's account. If there are other beneficiaries, you open a new one in your name, re-name it execs of wilkko's mum and use the card you are given to pay bills, just as you do on your own personal account.If you've have not made a mistake, you've made nothing2 -
Or you do online banking: long time ago but last time I needed one we opened a joint account, renamed it Execs of ..., and did initial transfers online. Final distribution was by cheque because it was ⅕ of a house, well over the limit for online transfer, and my siblings didn't want the expense of CHAPS.Signature removed for peace of mind1
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