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Open a zoom account11/15/2022 ![]() In such a situation, the funds in a joint account would then transfer over to your child, who can then distribute the funds according to your wishes without having to go through probate. ![]() Benefits of an Estate AccountÄuring the estate planning process, the idea of adding a beneficiary, usually an adult child, to an existing bank account as a joint account holder can seem like an attractive, more efficient option than creating a will and then having your executor set up an estate account after you pass. The estate executor can use the funds held in the account to deal with day-to-day administration expenses as well as the final distribution of funds to the estate's beneficiaries. One of the first steps an executor of an estate should take is opening an estate account, a bank account held in the name of the estate of a deceased person. ![]()
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