Estate Planning 101

Notifying Bank of America After a Loved One’s Passing

September 13, 2023

Are you an executor or trustee?

Snug can help you get organized by providing one place to store and analyze Wills, Trusts, and other essential documents. You can inventory finances, personal property, digital assets, insurance, and more.
Get started for free

Want to get organized?

Snug can help you organize all of life's details by providing one place to store and analyze Wills, Trusts, and other essential documents. You can inventory finances, personal property, digital assets, insurance, and more.
Get started for free

Want to offer estate planning?

Snug is a complete estate planning solution built for Financial Advisors who want to save time and offer their clients more. Whether you have an UHNW client who needs their documents analyzed or a mass affluent client getting their first Trust, we can help.
Get started for free

Need a Will or Trust?

Snug makes it easy to create a Will or Trust in under 20 minutes. Powers of Attorney and Health Care Directives are included for free with any Will or Trust, as is a year of free updates.
Get started for free

In the wake of a loved one's passing, one of the necessary tasks is to notify their financial institutions, such as Bank of America, if they held an account there. This is an important step to prevent identity theft, handle financial assets, and settle any outstanding debts.

Who Should Be Notified

Bank of America should be notified if your loved one held any accounts with them, including checking or savings accounts, credit cards, loans, or other financial products.

When to Notify

You should notify Bank of America as soon as possible after your loved one's passing. This is important to prevent unauthorized transactions and to start the process of closing or transferring the accounts.

How to Notify

To notify Bank of America, you can call their customer service line at 1-800-432-1000. You'll need to provide the deceased's name, date of death, Social Security number, and account numbers (if known). You may also need to provide a copy of the death certificate.

What to Expect After Notification

After notifying Bank of America, they will freeze the deceased's accounts to prevent unauthorized access. For joint accounts, the bank will usually remove the deceased's name from the account. For individual accounts, the bank will guide you through the process of closing the account or transferring the funds to the appropriate beneficiaries or estate.

Tips for Notification

When notifying Bank of America, it's helpful to have all necessary documents and information at hand. Be ready to provide your identification and contact information, as well as any legal documents pertaining to the estate, such as a will or letters of administration.

Conclusion

Notifying Bank of America after the death of a loved one is a crucial task to ensure financial matters are handled appropriately. By understanding the process and preparing the necessary information, you can navigate this task effectively during a difficult time.

FAQ

Q: What if I don't have all the necessary information when I call?
A: Bank of America can often locate the deceased's accounts using their name and Social Security number. However, having the account numbers can speed up the process.

Q: What happens to any pending transactions or automatic payments?
A: Once Bank of America is notified of the death, they will freeze the account, which should stop any pending transactions or automatic payments. It's recommended to also notify any companies that were receiving automatic payments directly.

Q: Can I access the deceased's bank accounts after notifying the bank?
A: After notification, Bank of America will freeze the deceased's individual accounts. Access to these funds will typically require legal documentation, such as a will or letters of administration.