When a loved one passes away, dealing with their finances can be a difficult and confusing process. One common question that arises is whether banks require an original death certificate or if a copy is sufficient. In this article, we’ll provide an overview of bank policies for submitting death certificates and some best practices for ensuring the process goes smoothly.
Do banks need the original death certificate?
In most cases, banks do not require the original death certificate. Copies of the death certificate that have been certified by the issuing authority are typically acceptable. This could be a certified copy from the county records office or state vital records department.
There are a few potential reasons why a bank may request the original:
- The bank may want to verify the authenticity of the document if there are large sums of money or assets involved
- Some smaller banks or credit unions may follow a strict policy of only accepting originals
- For older accounts, the bank may not have the deceased’s key identifying information (like Social Security number) on file and needs the original document for verification
However, these cases are relatively rare. As long as the copy is certified as valid by the issuing authority, most banks will accept it.
Where to get certified copies of a death certificate
Certified copies of the death certificate can be obtained from a few different places:
- County records office – This is the government authority that initially issues and files the death certificate. They can produce certified copies.
- State vital records office – The state agency that tracks vital records can also issue certified copies.
- Funeral home – The funeral director who filed the death certificate can provide certified copies.
When requesting certified copies, you’ll usually need to complete an application and pay a small fee. Turnaround times range from same-day to several weeks.
How many certified copies do you need?
When settling a loved one’s accounts, we generally recommend requesting 5-10 certified copies of the death certificate upfront. Here’s why:
- Different institutions may require their own original copy.
- It avoids having to go back later and request more copies if needed.
- Extra copies may be needed down the road for things like closing credit cards, investment accounts, etc.
While it costs more initially, getting enough copies upfront will save time and headache in the long run.
What information does the death certificate contain?
A standard death certificate will contain the following information:
- Name of the deceased
- Date of death
- Age
- Place of death
- Cause of death
- Social Security number
- Marital status
- Surviving spouse (if applicable)
- Usual residence
- Occupation
- Birthplace
- Father’s name
- Mother’s maiden name
This information is used by banks and other institutions to verify the person’s identity and confirm their passing.
How to submit death certificates to financial institutions
To close accounts and claim assets from the deceased’s bank and financial accounts, follow this general process:
- Make certified copies of the death certificate to have on hand.
- Compile a list of all financial institutions to contact. This may include banks, brokerages, 401ks, insurance companies, etc.
- Call each institution and ask about their specific requirements for documenting a death. Most will allow you to mail or submit online a certified copy of the death certificate.
- Submit the necessary death certificate paperwork to each financial institution, along with any other forms they require.
- Follow up to confirm the accounts have been closed and assets disbursed appropriately.
It can also be helpful to notify credit reporting agencies of the death to reduce risk of identity theft.
Special rules for joint accounts
If the deceased held joint accounts with a surviving co-owner, the process may be simpler. For jointly owned accounts like joint bank accounts or real estate, the ownership automatically passes to the surviving co-owner in most cases. The financial institution will likely still request a certified copy of the death certificate, but the co-owner retains access to the assets.
Role of probate
If the deceased had individually owned accounts and significant assets, it may be necessary to go through probate court before banks will release the money. Probate is the legal process for distributing property after someone dies. The court will determine the valid will and rightful beneficiaries. Generally an executor is appointed to manage the probate process. Banks will require documentation from probate court, such as letters testamentary, before distributing assets to beneficiaries of non-joint accounts.
When a death certificate is not available
In rare cases, an official death certificate may not be available yet or at all. This can happen if:
- The death occurred very recently
- The person died in another country
- There were special circumstances like a missing person
In these situations, banks typically require alternate forms of proof such as:
- Obituary or newspaper article reporting the death
- Letter from a government agency like the Social Security Administration
- Letter from a doctor, coroner or funeral home
The requirements will depend on each bank’s policies. They may be willing to work with other documentation on a case-by-case basis.
Key takeaways
- Banks generally accept certified copies of death certificates, not originals.
- Get multiple certified copies upfront to use for closing accounts.
- Joint accounts pass to the surviving owner in most cases.
- Non-joint assets may need to go through probate before being disbursed.
- If no death certificate is available, alternate proof may be accepted.
The bottom line
While the loss of a loved one is always difficult, having the right documentation makes settling their finances a little easier. Understand that banks mainly need certified copies of the death certificate, not necessarily the original. Request multiple copies upfront and follow the bank’s specific procedures for account closure. With the proper paperwork, banks can release funds and assets to the rightful beneficiaries in a timely manner.