Answer:
State law governs how estates must be handled by the executor. They, the executor, must be able to account for all funds received or disbursed through the estate. The ones I have dealt with do not allow the executor to use estate funds for personal expenses and all expenses incurred in performing their duty as the executor must be evidenced by receipts and reimbursement must be properly documented through the estate's account.
If no one in your bank can cite the appropriate state statute dealing with the executor's responsibilities for accounting of the estate then I suggest you speak with your bank's attorney.
First published on BankersOnline.com 8/6/12
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