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Where does the Executor/Administrator obtain the funds to pay debts?

April 26, 2017Administrator debts executor funds obtain pay

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Where does the Executor/Administrator obtain the funds to pay debts?

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The executor may, in most cases, withdraw up to one-half of the funds in the decedent’s New Jersey bank accounts. Generally, the Executor should open an estate checking accounts which can be used to receive and disburse funds.