Notifying the Financial Institution
The financial institution must be notified upon the death of the account holder. This is a critical first step in managing the financial aspects of the deceased’s estate. If the account is solely in the name of the deceased, the financial institution will typically convert it into an estate account. This conversion is necessary to ensure the proper handling of the deceased’s assets in accordance with legal requirements.

Role and Challenges for Personal Representatives
Personal representatives, such as executors or administrators, play a pivotal role in this process. They may find that withdrawing funds from the bank account can be challenging if a will has not been probated. Probate is the legal process through which a will is validated, and it’s essential for the lawful distribution of the deceased’s assets. In the absence of probate, financial institutions often have stringent policies to prevent unauthorized access to funds.

Accessing Funds for Immediate Expenses
It’s important to note that executors may still be able to access funds from the deceased’s account for immediate and necessary expenses. Such expenses typically include funeral bills, utility bills, property taxes, probate taxes, probate lawyer fees, and other direct costs associated with the administration of the estate.

Arranging a Meeting with the Bank
After obtaining a copy of the death certificate, a key document in these proceedings, it’s advisable to arrange a meeting with the branch manager of the deceased’s bank. Financial institutions generally show a high level of cooperation with family members and executors during these difficult times.

Documentation Requirements for Financial Transactions
For the release of funds, especially in the form of bank drafts, your bank will likely require specific documentation. This includes copies of invoices prepared in the name of the deceased, underscoring the expenses directly related to the estate. Therefore, it is crucial to ensure that all such invoices are properly addressed to the deceased, with a care-of note to the executor (e.g., ‘Deceased C/o Executor’).