Estate Planning 101

Notifying First Republic Bank After a Loved One’s Passing

September 13, 2023

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In the aftermath of a loved one's passing, there are numerous tasks to handle, one of which is notifying financial institutions. If your loved one held an account with First Republic Bank, it's necessary to inform them promptly. This blog post will guide you through the process.

Who Should Be Notified

First Republic Bank, where the deceased held an account or any significant financial relationships, should be informed about the death. This includes checking and savings accounts, loans, or safety deposit boxes.

When to Notify

Notify First Republic Bank as soon as possible after the death of a loved one. Prompt notification can prevent unwanted complications with the deceased's finances, such as automatic payments, and can help protect against potential fraud.

How to Notify

To notify First Republic Bank about the death of a customer, you should contact their Client Care Center via their toll-free number or visit a local branch in person. You'll need to provide a copy of the death certificate, and if you're the executor of the estate, you'll need to provide proof of this role, usually in the form of a legal document like the will or a court letter.

What to Expect After Notification

After you've notified First Republic Bank, they will likely freeze the deceased's accounts to prevent any further transactions. They will guide you through the next steps, which could include closing the accounts, transferring funds, and paying off any outstanding debts or loans.

Tips for Notification

When notifying First Republic Bank, keep a record of all communications. Document the date, time, and the name of the representative you spoke with. This can be useful if there are any issues later. If you're unsure about the process or have questions, don't hesitate to ask the bank representative for clarification.

Conclusion

While handling a loved one's financial affairs after their death can seem daunting, understanding the process can make it less stressful. By promptly notifying First Republic Bank, you can ensure your loved one's financial matters are handled correctly and respectfully.

FAQ

Q: What if I don't have a death certificate yet?
A: While you can notify First Republic Bank of the death initially without a death certificate, you will need to provide one as soon as it's available. The bank will need this to finalize changes to the deceased's accounts.

Q: What happens to the deceased's loans?
A: If the deceased had outstanding loans, First Republic Bank will explain how these should be handled. This usually involves the estate or co-signer, if there is one, paying off the debt.

Q: Can I access the deceased's safe deposit box at First Republic Bank?
A: Access to a safe deposit box after the death of the owner depends on the state's laws and the bank's policies. In many cases, a court order or a key may be required.