I looked into just doing an electronic transfer, but there is a limit of $2,000.
The account has $180,000 left. I would like to write myself a check for half that and put it into my account to pay off my car and house repair bills.
And yes, I am the executor.
I can't just go down to the bank as I would need to take more time off work.
Yesterday I wrote $48,000 worth of checks to pay taxes, and I sure didn't expect a hit that big.
Good thing I held back a substantial chunk of money from the disbursement.
Really?
With this much money at stake, I would forfeit the internet chat forum and make an appointment with a LAWYER for some advice you can take WITH you to the bank when you take some time off from work to handle the business at hand.
Some things just require a bit more time & attention than an internet forum can provide.
You do say Probate has been closed. If so, with u being the only beneficiary, why have you not written yourself a check for your inheritance and closed the estate acct? If Probate is closed then all debts have been satisfied? You made an accounting?
I had a lawyer for closing. He did the accounting from my records. He set up the estate acct for the proceeds of Moms house. After all the liens were paid, the balance was split between Moms children with checks and the estate acct closed.
And I personally wouldn't plan to move such a large amount without visiting the bank, you mention paying off debt and renovation bills but unless you are seriously in arrears I don't understand why that can't wait until you have time off?
You cannot write out checks to pay your own things until the OTHER debts of your parent are settled.
When that is done you can distribute the estate to yourself. Then it is your inheritance and you can do as you please with it.
When first you wrote us I suggested that given you are both executor of this estate and its only beneficiary you should understand that you CAN write a check to an attorney, and you should have a Trust and Estate Attorney for advice. Did you do that?
There seems to be a lot that you don't know about managing as an executor. You don't want to make mistakes here as that is just more confusion and trouble for you. If you have not already, please look up "Trust and Estate Attorneys" in your area. Be certain you get one that will get paid "by the hour". That will be about 350.00 to 400.00 for an hour but it is unlikely you would need more time than that.
Best of luck and good to hear back from you.
https://www.agingcare.com/questions/selling-a-house-to-a-family-member-as-executor-of-estate-473049.htm?orderby=recent&page=1
Have you closed out the Estate? I assume you're aware that wills typically have provisions requiring all estate costs to be made before disbursement can be made to beneficiaries?
Isn't your bank open on Saturdays? I personally think that a bank isn't going to deposit a $80K check w/o providing ID right on the spot so the teller can verify any concerns, including your ID.