E189 Can an Executor be Out-of-State?

<p><span style="font-weight: 400">No, it's not a good idea to have an out-of-state executor. Although it's technically legally allowed, in reality an out-of-state executor causes tons of problems.</span></p> <h2><span style="font-weight: 400">Banking Problems</span></h2> <h3>Opening the estate account</h3> <p>You probably think opening a bank account is a piece of cake. And you'd be right, if you were opening an account <em>for yourself</em>, personally.</p> <p><img class="aligncenter wp-image-8761 size-full" src= "https://anthonyspark.com/wp-content/uploads/2020/10/bank-kyc.jpg" alt="bank kyc" width="1280" height="720" /></p> <p>But <a href= "https://anthonyspark.com/e153-5-tips-for-banking-with-estates/">banking for an estate is a different animal</a>. But an estate account has tougher "<a href= "https://www.investopedia.com/terms/k/knowyourclient.asp" target= "_blank" rel="noopener noreferrer">know your client</a>" rules, and the executor often must meet with a banker <em>in person</em>, at a branch, to open an estate bank account.</p> <h3><span style="font-weight: 400">Troubleshooting problems</span></h3> <p>When you have a problem with your personal bank account, these days you have limitless customer support options. Website, email, live chat, tweets, or call or walk in.</p> <p>But with estates, you usually must walk into a branch and speak with a banker to get that missing statement or re-issue that 1099. And that can be a pain for an out-of-state executor.</p> <h2><span style="font-weight: 400">Selling Real Estate</span></h2> <h3><span style="font-weight: 400">Clean out</span></h3> <p>Yes, cleaning out the home or apartment is part of the executor's duties. For an out-of-state executor, this can mean several trips in and out of New York to supervise the clean out.</p> <h3><span style="font-weight: 400">Closing</span></h3> <p><img class="aligncenter wp-image-8763 size-large" src= "https://anthonyspark.com/wp-content/uploads/2020/11/https-www.c21redwood.rocksblogtaghighland-title-1030x773.jpg" alt="source: