Page 32 - v1-DonohueGuide-WorkingFile-TA
P. 32
LEGAL ADVICE
After a death, there are many legal Bank accounts
details to work out. While it is not What is to be done with bank accounts
necessary to get a lawyer, it is strongly after a death varies regionally. In
recommended. A lawyer will make some regions, bank accounts are
sure all the ‘t’s are crossed and i’s are automatically frozen after a death.
dotted”. The time following a death of To avoid any complications, the bank
a loved one is extremely emotional, should be notified immediately, and
and even the closest family will have you should find out the procedures for
disagreements over the most trivial releasing these funds, and how to set
matters. To make sure there is still up a new account for funds received
peace in the family, it is a good idea to after the death. It’s recommended that
let a lawyer figure things out. a joint account stay open for at least
six months to allow you to deposit
Before getting in touch with a any cheques that are made out to
lawyer there are several important the deceased. To take a name off a
documents that you need to gather. joint bank account, banks require to
Those include: see the original Death Certificate and
will make their own copy of it. If the
• Wills deceased had a safety deposit box in
• Deeds a bank, the contents will be listed by
• Bank Statements a bank officer and the original Death
• Insurance Policies Certificate will be required to gain
• Vehicle and Boat titles access to the safety deposit box.
• Tax Documents
Page 32
