Closing bank accounts after someone dies requires legal authorization and the right documentation. Here's the step-by-step process for executors in the US.
What Happens to Bank Accounts When Someone Dies?
Bank accounts become part of the deceased's estate at the moment of death. The bank will typically freeze individual accounts once notified of the death. Joint accounts with right of survivorship pass directly to the surviving account holder and do not go through probate.
Accounts That Bypass Probate
- Joint accounts with right of survivorship
- Payable-on-death (POD) accounts with a named beneficiary
- Accounts held in a trust
What Documents You'll Need
- Certified death certificate
- Your Letters Testamentary (official proof of executor status)
- Government-issued photo ID
- The account numbers (if known)
Step-by-Step Process
- Notify the bank of the death in person, if possible
- Present your death certificate and Letters Testamentary
- Complete the bank's estate claim form
- Receive a check for the account balance payable to the estate
- Deposit it into the estate bank account
Common Complications
If the account had no beneficiary and is large enough to trigger probate, you'll need to complete the full probate process before the bank releases funds. Some banks have their own small estate affidavit procedures that allow quicker release below certain thresholds.
