Do I need to report an estate account I share with brother on FAFSA? Not legally my money

yes u have to report it if ur names on the acct. fafsa only looks at whos name is there not who really owns it

It's a bit more nuanced than that. According to the FAFSA guidelines for 2025-2026, you need to report assets that you (the student) have ownership of. In this case, there's a distinction between having your name on an account and actual ownership rights. Here's what I'd suggest: 1. Get documentation from the executor stating that these funds are part of an estate settlement and that while your name is on the account, you don't have ownership or access rights to the funds yet. 2. When you complete the FAFSA, you technically should report assets you own or have access to. However, if you have documentation showing you don't have actual ownership, you can potentially exclude it. 3. Most importantly, after submitting your FAFSA, contact your school's financial aid office immediately. They have the authority to make professional judgment decisions in special circumstances like this one. Provide them with the documentation from the executor.

i had A SIMILAR THING happen with my dad's life insurance $$$!!! the financial aid people at my school were COMPLETELY UNHELPFUL and made me report it even though i couldnt touch the money for like 3 years!!! my EFC (thats what they called SAI back then) went through the roof and i got waaaaay less aid. the whole system is broken!!! 😡😡😡 they dont care about your situation AT ALL

I work in financial aid and can offer some clarity here. Estate accounts are a special situation. The critical factor is whether you have "beneficial ownership" - not just your name on paperwork. If the executor provides documentation confirming you don't have access to or control over these funds until the estate settles, you may qualify for an exception. However, technically, if your name is on the account and you can access the funds (even if you're "not supposed to"), FAFSA rules generally require reporting it. The best approach is: 1. Report the situation accurately on FAFSA 2. Immediately file a Professional Judgment appeal with your school's financial aid office 3. Provide documentation showing the estate status and access limitations Many schools will adjust your SAI calculation if you can prove these aren't functionally your assets.

Just went through this exact situation with my aunt's estate last semester. Here's what worked for me - I called Federal Student Aid to ask directly, but kept getting disconnected after waiting forever. Eventually I used Claimyr to get through to an actual human at FSA (claimyr.com - they have a video showing how it works at https://youtu.be/TbC8dZQWYNQ). The agent confirmed that I needed documentation from the executor stating that I had no current beneficial ownership of the funds despite my name being on the account. With that documentation, I submitted my FAFSA normally but then immediately filed a special circumstances form with my school's financial aid office. They adjusted my SAI calculation to exclude the estate assets. Seriously worth taking these extra steps rather than just reporting it as your asset.

my cousin said you dont have to report stuff thats not yours even if your names on it.......she did financial aid last year and didn't put her moms account that had her name too and nothing bad happened

As a follow-up to my earlier comment, I want to clarify one thing: the timing of when you'll receive distribution from the estate matters. If the estate will be settled within the award year you're applying for, the financial aid office may be less likely to exclude it from your SAI calculation. However, if settlement is years away, they're more likely to grant an adjustment. Also, know that different schools handle these situations differently. Some are more flexible with professional judgment adjustments than others. Public universities sometimes have stricter interpretations of the rules than private schools. Document everything, be completely honest, and appeal if necessary. Good luck!

I'm a financial aid counselor and wanted to add that you should also check if your state has any specific guidelines about estate accounts on FAFSA. Some states have additional protections or clearer definitions about what constitutes "student assets" vs. "beneficial interest" that can help your case. Also, when you get that documentation from the executor, ask them to specifically mention that you cannot withdraw, transfer, or use these funds for educational expenses without violating your fiduciary duties. This language can be really helpful when filing your professional judgment appeal. One more tip: if your school denies the appeal initially, you can usually request a second review with additional documentation. Don't give up after the first "no" - persistence often pays off in these complex situations!

Just wanted to chime in as someone who went through a similar situation last year. My advice would be to absolutely get that executor documentation ASAP - it was the key to getting my financial aid office to adjust my SAI. Also, when you contact your school's financial aid office, ask to speak specifically with someone who handles "professional judgment" cases rather than general staff. They'll be more familiar with these complex situations and can walk you through exactly what documentation they need. Don't let this stress you out too much - most schools deal with estate account situations more often than you'd think and they do want to help students in legitimate circumstances like yours!

I'm dealing with something similar right now! My grandfather passed last year and left an account with both my name and my sister's on it, but we can't touch the money until some legal stuff gets sorted out. From what I've learned lurking in this community, it sounds like you're on the right track with getting that executor documentation. One thing I wanted to add that I don't think anyone mentioned yet - make sure you keep copies of EVERYTHING. Like scan or photo every document before you send it to your school's financial aid office. I've heard horror stories of people having to re-request paperwork because the school "lost" it or it got buried in someone's email. Also, if you're comfortable sharing, what school are you attending? Some people here might have experience with how your specific school's financial aid office handles these situations. Every school seems to have their own quirks when it comes to professional judgment appeals. Hang in there - it sounds like you're doing all the right things and most of the advice here has been really solid!