How to setup a separate "estate of" account in Quicken2007

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I hope I can explain what I need.  My son died recently.  Grief is clouding my thinking in many areas.

I will be (but have not yet been named) the administrator of his estate.  I have been handling some financial transactions from my Quicken2007 checking/saving accounts with a new category of "estate".  That, obviously, is not a workable "solution".  I need to track these transactions completely separate from my accounts.  

I need a completely separate "set of books".  I'll need to be able to select "My accounts" or "Estate accounts" whenever I run Quicken.  Save to separate backups, gather separate tax information, etc.

How do I do that? Do I simply click File/New/New Quicken File and then create new accounts as needed?  I have a fear of contaminating my many years of Quicken data.


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jarhtmd

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Posted 2 weeks ago

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George Mays

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I would guess just start a new separate quicken file for that project.
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George Mays

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I am pretty sure the new quicken file would not access any of the other quicken file name. back it up first then try it.
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jarhtmd

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Thanks for your prompt reply.
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Sherlock, SuperUser

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I am sorry for your loss.

To create a distinct Quicken data file, select File > New Quicken File....
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jarhtmd

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Thanks for your prompt reply.  Seemed the logical solution after some investigation, but so many new & confusing matters popping up now, I didn't/don't want to go down any "blind alleys".  Thanks, again.
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splasher, SuperUser

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To say it another way, the data is kept in data files and not in the program, so there is no co-mingling of data between the data files.
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jarhtmd

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Thanks
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SimonSezSo

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jarhtmd , my heart goes out to you.  It is never easy.  Along with getting Quicken in order, if you haven't done so already, the first thing, and most important thing for you to do is get an estate TIN.  This is easily forgotten, when your mind is on so many other things at this time.

--Contact your attorney and investment manager, if applicable
--Need Letters of Testimony from Probate Court.
--Fill out IRS Form SS-4 to get TIN (can be done online).
--Provide TIN and Letters of Testimony to bank to open Estate Account.

If you already have taken these steps then ignore this.  But I wanted to extend this important information, just in case.  Hang in there.
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jarhtmd

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Thanks, so much.  You're right.  There are so many (all new) things at this time.
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George Mays

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Get enough copies of death certificate also...
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smayer97 (QM2007, CDN user since '92), SuperUser

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Sorry for your loss too... I have heard it said that outliving your children can be one of the hardest things. I hope you have support around you to help you during this grieving period.

As for Quicken - Once you have created the new data file, one way you will be able to easily switch between yours and your son's file by using the File menu where both your recent files will be listed. Just select the other file to switch between them.

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

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