Legal Question in Wills and Trusts in Massachusetts

Re: Estate Bank Account

If the truck was sold as part of his estate, rather than as a gift to you in his will or if you were on the title, you should open an estate account and deposit the check into it. You may pay estate-related bills and may reimburse yourself for estate-related expenses you have paid for. Debts of your father may be paid from these funds if the estate has enough to pay all outstanding debts. If not, then the estate would be bankrupt and there is a special procedure to make sure creditors share pro rata in the estate, rather than you picking and choosing which creditors will get paid. If you are the sole heir, it probably makes no difference. If there are other takers under the will, you should make sure everyone agrees with the distribution, especially to yourself. You will have to file an account as to all money received and spent or distributed. There will be a fee for this, depending on the amount received and spent and the time period (each year adds to the fee).