What to do if a person dies and has money in a savings account which lists no beneficiary?

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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 6 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.


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