Accessing the bank account records of your deceased parent can be accomplished in several ways. If there are other heirs, a will exists or someone else is named on the bank account, the matter might need to be probated, with an executor of the estate making the decision on your access to the bank account records.
Locate Your Parent’s Financial Records
This includes insurance accounts and banking statements. This is important so that any remaining financial obligations and funeral arrangements can be addressed immediately. Obtain a copy of the death certificate. Locate any official identification documents, such as a driver’s license, state identification certificate, Social Security number, birth certificate, banking statements and a marriage license or utility bill.
Read Bank Account Documents
You'll want to verify whether or not were a joint party with the right of survivorship. If you are, then depending upon the other conditions set in the language of the bank account document, you would be entitled to automatic access to any and all funds in the account. By being a co-owner of the bank account or legally having “joint tenancy with right of survivorship” upon the death of your parent, the property or bank account holdings are transferred to you.
Read More: Can an Executor of a Will Close a Bank Account?
Find out if You are the Executor
This is often indicated in a will, although sometimes the probate court will appoint an executor. If there is an executor, your access to the banking account will be determined by the executor. The executor is legally bound by the probate court to the administration of the estate. This includes responsibility for finalizing all aspects of the estate, such as bill payments, disposition of estate possessions, sale of land and financial assets. Access cannot be granted unless the executor believes it is necessary and you are a named heir.
Meet With a Local Probate Attorney
If there is no estate executor see if your state has a relevant small estates law. Small estates laws allow an heir to bypass probate proceedings to obtain access to property and monetary holdings. The purpose of these laws is to reduce or completely eliminate court proceedings by submitting a small estate affidavit to a bank. Each state sets its own limit for small estates, but in many cases the law applies if the estate’s value is $10,000 or less. The law might require you to file the small estate affidavit with the probate court before submission to the bank.
Meet With a Bank Official
Inform the bank if you are the heir or joint owner of the bank account with right of survivorship. Speak with the bank official responsible for handling decedent accounts. Have original or copies of all relevant documents necessary to establish your entitlement as well as to verify your parent’s identification and banking account.
Obtain a signed and notarized statement from your parent or parents giving you power of attorney to handle matters after they are deceased
Know where the will is located
If all personal and financial records are in a safety deposit box, make certain you have authorized access to it.