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Checking Acct. for Estate-Electronic Draft?

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Is a checking account for an estate allowed to have an electronic draft debited from the account?

Why not? Many estate accounts will function for years and may have regular bills for many services or debts. The executor of the estate is often empowered to borrow funds and pay all bills and this is just a way to accomplish that. Those permissions for the executor are the only issues I could see restricting use of the account.

First published on 06/30/2019

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