What happens to bank accounts after death?

It depends on how the accounts were titled. Accounts owned by the trust generally remain under the control of the successor trustee, while joint accounts or payable-on-death accounts may pass automatically to surviving owners or named beneficiaries.

Financial institutions often require death certificates, trust certifications, and additional paperwork before granting access to accounts.

 

Philip J. Kavesh
Helping clients with customized estate planning guidance and trust & estate administration for over 45 years.