027: Marshaling Financial Accounts in Probate: A Practical Guide for Executors
Episode Description
In this episode of Probate Notes, host Sam Price breaks down the practical realities of marshaling financial accounts during probate administration. The conversation focuses on what executors and administrators must actually do after appointment, including tracking down accounts, working with banks, and gathering the documentation needed to access estate funds without delays or missteps.
The discussion also clarifies the key differences between cash accounts, brokerage accounts, paper securities, and retirement accounts, with special attention to timing, tax implications, and required minimum distributions. Listeners will come away with a clearer understanding of when assets should be liquidated, when they should remain intact, and why patience and persistence are critical throughout the process.
Sam is joined by Jennifer Fejzic, a professional fiduciary with decades of probate experience, who shares real-world insights and hard-earned best practices from managing complex estates.
In this episode, you will hear:
- Marshaling cash accounts as the priority after the court appointment
- Required documents banks demand and why certified letters matter
- Challenges working with large national banks versus local institutions
- Gathering statements, signature cards, and records for estate accountings
- Handling brokerage accounts, paper securities, and medallion signature guarantees
- Special rules and tax risks tied to retirement accounts and required minimum distributions
Resources from this Episode
The 6-Stage Probate Process - How to Navigate California Probate
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Episode Credits
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