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What type of forms are needed for me to handle my deceased son's affairs such as banking?

What type of forms are needed for me to handle my deceased son's affairs such as banking?

Q: What happens if you don't close a deceased person's bank account?

If you don't close a deceased person's bank account, it may continue to accrue fees, and unauthorized transactions could occur. Additionally, the funds in the account may become difficult to access for settling debts or distributing the estate. It’s advisable to close the account to avoid complications.

Q: How long can you keep a bank account open after death?

In Michigan, a bank account should ideally be closed shortly after the account holder's death. While there is no specific time limit, keeping the account open for too long can lead to fees and complications in managing the deceased's estate. It's best to address this promptly.

Q: Can you withdraw from a deceased person's bank account legally?

No, you cannot legally withdraw from a deceased person's bank account without proper legal authority, such as being named executor of the estate or having a court order. Unauthorized withdrawals can lead to legal issues. It's important to follow the appropriate legal processes to access the funds.

Full question:

My son passed away on Oct. 28, 2006 and he did not have a will. His mortgage company will tell me nothing and I can’t close his bank account or cash a $269.00 dollar check sent to his estate without legal papers or a power of attorney. What do I need to do. He has no children or wife. I am his mother.

Category: Wills and Estates
Date: 04/07/2025
State: Michigan

Answer:

Under Michigan statutes, if the estate of the decedent is sufficiently small as defined by §15-12-1203, the personal representative of the decedent may distribute the assets of the estate immediately, without a court filing or additional notice to other parties. After distributing the assets of the estate, the estate may be closed by the filing of a verified closing statement.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Is it important to close a bank account after death?

Yes, it is important to close a bank account after someone has died. This helps prevent unauthorized access and protects the estate's assets. Closing the account also ensures that any outstanding debts are settled and that the remaining funds are properly distributed according to state laws.