What to do if a person dies and has money in a savings account which lists no beneficiary?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do if a person dies and has money in a savings account which lists no beneficiary?
My wife’s father passed away 2 years ago and left a Will which divided all of his possessions equally among his 4 children. However, he had $475 in a savings account with no beneficiary listed. We have given copies of the death certificate and Will to the bank but because he did not name a beneficiary they won’t release the money. What can we do to get it?
Asked on April 14, 2015 under Estate Planning, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. If he had a Will then I am assuming that he had other assets to leave and that you have opened an estate. If that is not correct check with the Probate Court clerk about filing a Small Estate Affidavit for the funds. If he died with out a Will (intestate) all children would also share so you may not need to do a probate at all. If there are other assets and you are opening an estate then the Executor would present their Letters Testmentary to the bank and they would write a check to The Estate of so and so and then the executor would open an estate account and deposit it. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.