Handling Bank Accounts After a Loss
We make it as easy as possible for you to close a bank account after a death, or to remove the deceased’s name from a joint account. Often, account settlement can be completed quickly and easily. Call us or visit a branch by appointment to get started.
For many accounts, that will be all that account settlement includes. Certain relationships may involve additional tasks or review.
Frequently Asked Questions on Account Settlement
Family members or next of kin generally notify the bank when a client passes. It can also be someone who was appointed by a court to handle the deceased’s financial affairs. There are also times when the bank leans of a client’s passing through probate.
This will depend on how the types of accounts the client had with KeyBank were structured. It is best to set up time to discuss this with a banker, and after they verify your authority they can assist with the specifics of the situation. To speak with a banker visit a branch or schedule an appointment.
There are many factors to be considered when settling accounts of a deceased client. The client’s total relationship, account titling, obligations, and more may be considered when settling accounts. Each situation can be unique and a banker can give specifics regarding the relationship. To speak with a banker visit a branch or schedule an appointment.
Tax implications can vary based on the individual relationship. It is best to talk to a trusted tax advisor prior to settling an estate.
Hiring an attorney is not required to settle a loved one’s KeyBank accounts. However, based on the individual situation, it could be helpful to have a lawyer available to reach out to.
Banking products and trust services are offered by KeyBank National Association.
All credit, loan and leasing products subject to credit approval.
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