How to Access a Bank Account After Someone Dies
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- Опубликовано: 7 фев 2025
- Many of our clients bump up against this problem when a family member dies: the bank freezes the bank accounts and they don’t have access to cash to pay for expenses such as funeral and burial. Automatic payments, such as mortgages, bounce. This is not only a source of frustration but can also cost a lot of time and money to fix. absolutetrustc...
0:49 - Clients planning for the future know that they should have a trust and that their bank accounts should be in the trust, but why exactly is this true?
1:59 - Did you know that this is the amount that an estate has to be worth to trigger probate?
3:47 - Your Power of Attorney is good if you’re still alive or incapacitated, but this is what happens when you pass away.
5:20 - Someone has died and you’re still accessing their bank account, is this illegal?
6:04 - Who is able to access an account when someone passes away?
9:56 - Kirsten and Madison discuss the different types of bank accounts you can have.
17:28 - What happens if someone dies and the only asset, they have is $1,000 in their bank account?
19:25 - If you are the person that has Power of Attorney, can you access and use the account to help cover funeral costs or costs associated with opening probate?
20:34 - If you have Power of Attorney, should you notify the bank that the person has died?
22:18 - As the executor of someone’s bank account when should you close it?
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Thank you Kristen and Madison!
Thank you for the information
Hi Annie K., thank you for your message. This is Kara with the Absolute Trust Counsel team. We are pleased you are finding our content to be helpful. Thank you again for the positive feedback. Best wishes, the ATC team
my dad died 4 years ago had a joint account with stepmom, who also died. How can I as his daughter get those funds. I did have POA before he died.
Thank you for your message. This is Moses from the Absolute Trust Counsel team. To answer your question, we must gather additional information from you. In response to your question, "It depends." We'd be happy to help answer your question by providing a consultation. Feel free to call us at 925.943.2740, you can email us at info@absolutetrustcounsel.com, or schedule a discovery call to confirm how we can help you by using our calendar here: absolutetrustcounsel.com/scheduling/. We are excited to meet you.
Sincerely, Absolute Trust Counsel
11:41 is what I was wanting to hear. Also, I was wondering if it is illegal for me-as the POD-to use my decease father's debit card that he left with me (before passing away) to pay for his funeral expenses before I notified the bank of his demise. After all, the money becomes mine on the day he passed away.
There is an estate that he left that's in probate, but the money left to me as POD has nothing to do with the estate in probate, correct? The bank didn't have a problem with my spending the money before contacting them, but can the Administrator handling probate affairs argue the way I handled the money?
Hi Pocahontasnc, thank you for your message. This is Kara from the Absolute Trust Counsel team. To answer your questions, we need to get additional information from you regarding your situation. Please feel free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free 10 - 20 minute discovery call to discuss your concerns and how we might help using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. We look forward to hearing from you. Sincerely, Absolute Trust Counsel
Can you use the deceased bank card before tithe probate was filed ?
Hi Sylvia, thank you for your message. This is Kara from the Absolute Trust Counsel team. To answer your question, we need to get additional information from you regarding your situation. Please free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free 10 - 20 minute discovery call to discuss your concerns and how we might help using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. We look forward to hearing from you. Sincerely, Absolute Trust Counsel
What about setting up a separate account with co owners just for paying final expenses?
Hi, this is Susie from Absolute Trust Counsel. We hope you're having a great day and would love to help you. Would you like to meet with Kristen personally for assistance? Feel free to call our office at 925.943.2740, email us at info@absolutetrustcounsel.com, or schedule a Discovery Session at calendly.com/absolutetrustcounsel.
Best wishes, Susie - from the ATC Team
First, thank you so much for all your helpful information. But I want to know what happens when a will is found invalid and the executor has sold everything immediately after the person dies?
Hi @jnhill1976, Thank you for your thoughtful message. In California, an executor is appointed by the court. Any action taken by a person who has not yet been appointed by the court is not legally permitted and such person could be personally liable for any harm caused by the illegal act. Sometimes, families want to begin the process of clearing out the home in order to sell it as soon as the executor is appointed. We do not advise this. However, there are, as a practical matter, no consequences if the beneficiaries of the estate do not object to the executor's premature actions. Wishing you the very best.
What is a private trust ?
What about we being the grantor/ original issuer too banks ? Do banks need to fill out these OID's ?
Thank you. I need help in the worst way and all odds are stacked against me. The law system is so crooked. @absolutetrustcounsel
What if there is no probate and no will but is a beneficiary on a bank account
because my name was on was under 100,000
The small estate affidavit asks if at least 6 months have elapsed since the death. I thought I heard, in your video 40 days but, maybe I'm misunderstanding?
Hi Angel, thank you for your message. This is Kara from the Absolute Trust Counsel team. To answer your question, we need to get additional information from you regarding your situation. Please free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free 10 - 20 minute discovery call to discuss your concerns and how we might help using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. We look forward to hearing from you. Sincerely, Absolute Trust Counsel
I need some help to get letters of administration. My situation is a complete disaster. Due to the fact that I let everything just sit. And I did not take any action sooner. Can I still try to get letters of Administration six years later?
Hi, Thank you for your message. This is Moses from the Absolute Trust Counsel team. To answer your question, we must gather additional information from you. In response to your question, "It depends." We'd be happy to help answer your question by providing a consultation. Feel free to call us at 925.943.2740, you can email us at info@absolutetrustcounsel.com, or schedule a discovery call to confirm how we can help you by using our calendar here: absolutetrustcounsel.com/scheduling/.
We are excited to meet you.
Sincerely, Absolute Trust Counsel
And I was a co owner was a very low a amount
My mom died in april my aunt handling her estate she refuse to tell me anything what can i do ,she had ,car,house bank accounts can my aunt take everything..
Hi, Thank you for your detailed message. This is Moses from the Absolute Trust Counsel team. I’m so sorry for your loss and that you’re facing all of these issues, but I agree with your suggestion to reach out to Kirsten. She’s just the best. You can call our office at 925.943.2740 or email us at info@absolutetrustcounsel.com to discuss this further. Take care, Moses from the Absolute Trust Counsel Team
If their is no will, and my wife passed away, and my bank got frozen. And I didn't have kids with her
Guys i need help but am in a hardship. Dad died years ago i cant find his bank, health ins, stocks, or minerals he left me i live in california he lived in arizona, colorado, ca.and more im only child , only heir, and rep of estate
If im rep of estate and its already documented with clerk of court
I cant find his trust
If i have where my dad said i leave traci as rep of estate , what else do i do? Im only child only heir
I dont know where he banked or anything
His wife lied to judge and said he had no children she wanted full estate . She got lawyer he stole 14,000 from my dads estate and judge found him guilty, they stoled from the trust or estate but as daughter i cant find trust. Or she died in 2008 house should of went to me , it never did , she hid it
Amen
My step dad died left all to stepbrother and wife except five thousand for me and five thousand for my brother in will it's in probate never got will had to get it my self from probate.probatw six months will be up next month what's to say we will get our part me and sister in law and step brother don't get along.will we still get our inheritance.its in the will
Hi Rebecca, thank you for your message. This is Kara with the Absolute Trust Counsel team. To answer your question, we need to get additional information from you regarding your step-father's will. Please free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free 10 - 20 minute discovery call to discuss your concerns and how we might help using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. We look forward to hearing from you. Sincerely, Absolute Trust Counsel
My younger brother killed my mother and is with the help of the bank, is getting access to her pension account.
Hi Bonnie, thank you for your message. This is Kara with the Absolute Trust Counsel team. I am so sorry for your loss. If you live in California and would like to know of any options you may have to rectify this situation, please feel free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free 10-20 minute discovery call to discuss your situation and how we might help using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. If we can't help, we may be able to refer you to someone who can. We look forward to hearing from you. Sincerely, Absolute Trust Counsel
And the bank give me the money because I was I was in the right
And I give them the home
Wait the Bible says your father in heaven paid a price for you ... what are we talking here ? What is form 56 about ?
That’s RT
Hi Candy, thank you for your message. This is Kara from the Absolute Trust Counsel team. To answer your question, we need to get additional information from you regarding your situation. Please free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free 10 - 20 minute discovery call to discuss your concerns and how we might help using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. We look forward to hearing from you. Sincerely, Absolute Trust Counsel