After thousands of conversations with executors, attorneys, and beneficiaries, the same mistakes surface again and again. Most are preventable with the right information at the right time. This is that information.
Each mistake below includes what it looks like, why it matters, and — most importantly — what to do instead.
1. Commingling Personal and Estate Funds
What it looks like: Paying the deceased's utility bill from your personal checking account because "it was easier." Depositing a refund check made out to the deceased into your own account. Using estate funds to cover a personal expense you'll "pay back later."
Why it matters: Commingling voids the fiduciary separation between you and the estate. It's the single most common source of beneficiary lawsuits and, in extreme cases, criminal charges.
What to do instead: Open a dedicated estate bank account using the estate's EIN — not the deceased's Social Security number, not your personal account. All estate income goes in; all estate expenses come out. Personal reimbursements happen through documented expense reports, paid from the estate account to you.
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