Tag Archives: CASH

Does cash under the mattress get reported to probate court?

 

Q: Does cash under the mattress have to go to probate court when somebody dies? The death person gave this money to relatives to hold to prevent creditors of the estate from taking it when he dies. It is impossible for the creditor of the estate to know that this cash exists. A probate lawyer told the two adult children after examining all bank statements of the death person that it needs to be reported. The creditors think that this money was spend. The death person was living rent free in a house that legally belonged to relatives. (Uniontown, PA)

A: Yes, it must be reported. It is considered property of the “death person” in the form of cash and part of their estate. It must be reported on the estate Inventory and estate Inheritance Tax Return.