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When a Customer Dies - Sp18

When a Customer Dies - Sp18



Time: 11:00 am EST


What do you as a bank do when one of your customers dies?  Who has authority over customer accounts? When? What proof is valid to establish access authority to a DDA, Safe Deposit Box, and other records? The different title variations on accounts and resulting dispositions that must be considered. What triggers the need for a probate proceeding? What happens during probate, and who has authority? What about non-probate accounts, and POD variations?  We’ll walk you through this complicated process of dealing with a customer’s death.


A mock estate is used as an example, with multiple parties involved. Part goes through probate, part does not. A small estates claim is made as well. A family dispute occurs, and the bank is in the middle.  Solutions to the example are reviewed, with concepts being easily applied to your own institution.