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<p class="MsoNormal">Estate tax gurus,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I have a client who opened probate for the sole purpose of executing a PR deed to transfer real property. The estate has no other assets. She has not obtained an EIN or opened an estate bank account. Does she need to file an estate tax
return?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Second question – My client paid off the mortgage with her personal funds. The mortgage company will not issue a check refunding the balance of the escrow account to my client, personally (even though the property is in her name now).
We can ask the mortgage company to issue the check to the estate. This is a joint estate (for Grandma and Grandpa). Would I just obtain an EIN for the last grandparent to pass? (The IRS won’t allow me to input information for two decedents, even though
their estates are being probated as a joint estate). I’m concerned the mortgage company will want to write a check to “Estates of Grandpa and Grandma.” Do banks object to opening an estate account in joint probate scenarios (with names of two decedents)?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks in advance! <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="margin-bottom:3.0pt"><b><span style="font-size:13.0pt;font-family:"Cambria",serif;color:#203864;mso-ligatures:none">Inge A. Fordham | Attorney</span></b><span style="font-size:12.0pt;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt;font-family:"Cambria",serif;color:black;mso-ligatures:none">Fordham Law, PLLC</span><span style="font-size:12.0pt;mso-ligatures:none"><o:p></o:p></span></p>
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