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Hadnuff Asked March 2017

How do you withdraw large sum of money from mom's estate bank account?

I am thinking $5,000. Or even $2,000. It is in moms estate account. I want to put it in brothers supplemental needs trust in same bank. I don't suppose they would just transfer the money from one account to the other would they? Do they mail me a check? I guess they don't have that much money at the teller to let me do instant withdrawal and deposit.

Hadnuff Mar 2017
The estate is closed as far as I know. I was told I could give the money to the heir now. Which is my brother. But he can't have the money. It has to go in his trust. I didn't know if they could electronically transfer the money or if I would have to wait for check in mail.Then go to bank to deposit it. Used to transferring money between accounts all held by me. Don't know about this situation. And never took such large amount out of bank. Large to me is withdrawing $400.

freqflyer Mar 2017
This is something you need to check with an Elder Law Attorney. I know I cannot draw any funds from my Dad's Estate account unless it has to do with paying a bill related to the Estate, such as income tax and attorney fees.

But since this is going into a supplemental needs Trust for your brother, this might be a different situation. If the answer is yes, are you able to go on-line and make the transfer between accounts? Or you can personally go to the bank, and they can make the withdrawal and deposit via computer.

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