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Jack Pierson has been appointed the personal representative (executor) for Kevin Taylor's estate. Jack has been trying to do things on his own but decides
Jack Pierson has been appointed the personal representative (executor) for Kevin Taylor's estate. Jack has been trying to do things on his own but decides he needs help. In your initial interview with Jack, he tells you that he has gathered all of Kevin's money from his three banks and put it all together in a savings account that he (Jack) opened for himself a few months ago but never really used. What advice, if any, should your supervising attorney give Jack about this situation? a. The attorney should advise Kevin that he needs to open a checking account in his own name, but as executor of Kevin's estate, after completing the necessary IRS paperwork, and move the money that came from Kevin's accounts to the new checking account. b. The attorney should advise Jack to change the name on the savings account to the Estate of Kevin Taylor, after completing the necessary paperwork, and remove any money that Jack had in the account before he added Kevin's. c. There's no advice for the attorney to give regarding this scenario. What Jack has done is within his duties as a personal representative. d, The attorney should advise Jack that he shouldn't have moved Kevin's money and that he needs to put the money back in Kevin's accounts
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