How Do I Get the Money From A CD of My Deceased Mother?

Full question:

My mother passed away in 1997. We just found that she had a CD which was not distributed to the heirs. We did not know about the CD. What do we need to do? I live in Florida. My mother lived in Pa.

• Category: Wills and Estates
• Subcategory: Probate
• Date: 04/07/2025
• State: Florida

Answer:

When a person dies, their assets are distributed in the probate process. If a person dies without a valid will, an administrator is named to handle the distribution of the estate after a petition to probate the estate is filed with the court in the county where the deceased resided. The court will issue letters testamentary or letters of administration, giving the administrator authority to collect the assets and pay the debts of the decedent.

In cases where the decedent didn't own property valued at more than a certain amount, which varies by state, the estate may go through a small estate administration process, rather than the formal probate process. The amount is $25,000 in Pennsylvania. To dispose of the real property interests of the decedent, the executor or administrator executes an executor's deed or fiduciary deed. For example, if a person who is a joint tenant dies without a will, the administrator of the estate can execute a fiduciary deed transferring their interest to the remaining joint tenants, or other person entitled to receive the interest under intestacy laws of the state.

An intestate estate is any part of the estate of a decedent not effectively disposed of by his will, which passes to his heirs as prescribed in the applicable state's laws of intestate succession. The estate of a decedent who dies intestate is distributed according to the intestacy laws where the decedent was domiciled and/or where the decedent owned real property. Under the intestate laws of succession, the spouse and heirs will receive property by the laws of descent and distribution and marital rights in the estate which may apply to a surviving spouse. Each state has an intestacy law which specifies who is to inherit property in the absence of a will. If a person dies without a will, the probate court will appoint a personal representative (or administrator) for his or her estate to receive creditors' claims against the estate, pay debts, and distribute the deceased person’s remaining property according to state laws. Certain assets are not included as part of a person's estate and may pass outside of probate, such as trust assets and transfer on death accounts or property owned by joint tenants which passes under a right of survivorship when one tenant dies.

If the CD didn't name a person as beneficiary to whom it would transfer on death, you may have no choice other than to open an estate with the probate court. This may be necessary in order to have ownership title to property changed to your name, etc. We do not know the details of the real and personal property involved, and going into that level of detail is beyond the scope of this service. However, a shortcut may be available.

There is a "small estate affidavit" statute in Pennsylvania.

This would be a way to avoid opening an estate, however it is only a viable option in certain circumstances.

You would be well advised to consult a local attorney in order to determine the best course of action. Especially to help you conclude whether you need to open an estate in court, depending on the details of the situation. If you tell the lawyer that cost is very important to you, and perhaps get him/her to give you a flat fee for all services, rather than hourly billing, you will come out better. You can shop around and ask what other lawyers would charge you as a flat fee, then make the best choice.

Please see the following PA statutes:

20 Pa.C.S.A. § 3102. Settlement of small estates on petition

When any person dies domiciled in the Commonwealth owning property
(exclusive of real estate and of property payable under section 3101
(relating to payments to family and funeral directors), but including
personal property claimed as the family exemption) of a gross value not
exceeding $25,000, the orphans' court division of the county wherein the
decedent was domiciled at the time of his death, upon petition of any
party in interest, in its discretion, with or without appraisement, and
with such notice as the court shall direct, and whether or not letters
have been issued or a will probated, may direct distribution of the
property (including property not paid under section 3101) to the parties
entitled thereto. The authority of the court to award distribution of
personal property under this section shall not be restricted because of
the decedent's ownership of real estate, regardless of its value. The
decree of distribution so made shall constitute sufficient authority to
all transfer agents, registrars and others dealing with the property of
the estate to recognize the persons named therein as entitled to receive
the property to be distributed without administration, and shall in all
respects have the same effect as a decree of distribution after an
accounting by a personal representative. Within one year after such a
decree of distribution has been made, any party in interest may file a
petition to revoke it because an improper distribution has been ordered.
If the court shall find that an improper distribution has been ordered,
it shall revoke the decree and shall direct restitution as equity and
justice shall require.

20 Pa.C.S.A. § 3133. Limit of time for probate

(a) Original probate. — A will may be offered for probate at any time.

(b) Conclusiveness of original probate. — The probate of a will
shall be conclusive as to all property, real or personal, devised or
bequeathed by it, unless an appeal shall be taken from probate as
provided in section 908 of this code (relating to appeals), or the probate
record shall have been amended as authorized by section 3138 of this code
(relating to later will or codicil).

(c) Effect upon grantee or lienholder. — A will offered for original or
subsequent probate more than one year after the testator's death shall be
void against a bona fide grantee or holder of a lien on real estate of
the testator if the conveyance or lien is entered of record before the
will is offered for probate.