What to do when the owner of a bank account dies

When this happens, doing all the paperwork becomes an arduous task for the family, but you must know what to do when the owner of a bank account dies . In .com we have the most important keys so that you know how to act. The most important thing is that in no case will the bank keep the money, although for that you must present a series of documents.

one

What to do with the financial institution?

The heirs recognized in the will must provide a series of documents:

• the Certificate of the Record of Acts of Last Will and Death
• Inheritance and Donations Tax
• a copy of the last testament.

In addition, the condition of heir must be demonstrated and, in the case of not having a testament, the court order of judicial declaration of heirs abintestato will be needed and a series of notarial justifications will be provided.

two

How should the bank act?

When all this information has been provided, the financial institution must indicate to the heirs the economic situation of the deceased. But the paperwork does not end here, since the bank will request a posteriori another series of documents to completely verify the authenticity of the heirs; These are a copy of the will and the acceptance of the inheritance .

3

What if we do not know what accounts the deceased has?

No problem, in the Tax Agency you can obtain the financial information of the deceased, the only requirements are to prove the death and prove that he is an heir of that person. Among these data we can know all the accounts that had to perform the previous steps in these banks.

4

Does ownership and co-ownership matter?

Of course. If the deceased is the owner of the bank account, the heirs or immediate family members of the first rank will receive the accumulated amount. However, in the case of the co-owner, there will be a division of the assets: 50% will be owned by the owner and the remaining half will be made available to the stipulated in the will.