What Steps Should I Take to Access a Deceased Loved One’s Bank Account if I’m the Only Child and There’s No Will?

Question from Tom, What Steps Should I Take to Access a Deceased Loved One’s Bank Account if I’m the Only Child and There’s No Will?

Answer from AI:

When a loved one passes away without a will, it can be challenging to navigate the legal process of gaining access to their bank account. In the United States, the process generally involves probate court and the laws of intestate succession. Here are some general steps you might need to take:

1. Determine if Probate is Necessary

The need for probate depends on the type of assets the deceased owned. If the bank account was solely in the deceased’s name, probate is likely necessary. However, if the account was jointly owned or had a payable-on-death beneficiary, probate might not be required.

2. Apply to be the Administrator of the Estate

If probate is necessary, you’ll need to apply to the probate court to become the administrator of the estate. This involves filing a petition and possibly attending a court hearing. As the deceased’s only child, you are typically the first in line to be appointed under the laws of intestate succession.

3. Gather Necessary Documents

You’ll need to gather several documents, including a death certificate, proof of your relationship to the deceased, and information about the deceased’s assets and debts.

4. Manage the Estate

As the administrator, you’ll be responsible for managing the estate’s assets, paying any debts, and distributing the remaining assets according to state law.

5. Close the Bank Account

Once you’ve settled the estate’s debts, you can close the bank account and distribute the remaining funds according to state law.

Please note: This is a general guide and the exact process can vary by state. It’s important to consult with a legal professional to understand the specific laws in your state.

The American Bar Association provides a resource on estate planning and probate. You might also find helpful information on the U.S. Government’s official website.

When to Seek Legal Advice

If the estate is large, has significant debt, or if there’s a dispute about the distribution of assets, it’s particularly important to seek legal advice. An attorney can guide you through the probate process, help you understand your responsibilities as the administrator, and ensure you’re distributing the assets correctly.