N
Nellie
Guest
Thanks for the first reply. My relative was the sole owner of the bank account. I contacted the surrogate court in NJ and they are sending an "affidavit" to my local courthouse for me to sign. They said I would then be the administrator and that I would pay whatever bills I can out of the money in the account. I didn't tell them about the IRA of which I was named beneficiary because the brokerage firm is in the process of transferring it. Will I be responsible for any debts not covered by her checking account money since I was the named beneficiary of her IRA? I thought this sort of thing worked like life insurance, but now am not so sure. The surrogates office kind of confused me.....I know my relative did not have very much money and I've been receiving her forwarded mail so I know she had substantial debt. I am very concerned about what to do with these bills. Any help would be greatly appreciated. The surrogate office made it all sound too simple to believe.....Thanks