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What happens to an account when the only owner is deceased?
Frequently Asked Question
• If the balance on deposit in the account on date of death is $20,000.00 or less, an original death certificate and copy of paid funeral bill is required to process the account.
• If the balance on deposit in the account on date of death is over $20,000.00, an original death certificate and original short certificate or Letters of Administration are required. These documents identify the individual legally authorized to act on behalf of the estate and can be obtained through the decedent's local county Register of Wills office.
• To protect your loved one’s assets, some account types will require the funds on deposit be placed on hold.
• Loans will be reviewed and handled by our Collections Department. They can be contacted at 866-739-0070
