Why Executors of an Estate Must Have an Estate Bank Account

Being an executor in San Diego comes with many responsibilities, including managing the financial assets of the estate.

One critical task is setting up an estate bank account to keep the estate’s funds separate from your own. This video explains why having a separate estate bank account is essential, how it helps avoid comingling of funds and how to use the estate account to simplify the distribution of assets once the probate process is complete.

Whether you’re dealing with mortgages, utilities, or other debts, keeping accurate records through this account will protect you from legal complications and ensure you’re fulfilling your fiduciary duties as a trusted executor.

What is an EIN number? Find out here