An executor or executrix is the person or corporation appointed by a will to settle the estate of a deceased person and approved by the court to serve as such. ![]() What is the difference between an administrator and an executor (or executrix)?Īn administrator is the person or corporation appointed by a court to settle the estate of a deceased person if no valid will can be found or if there is a will and the named fiduciary does not serve. A fiduciary may also be referred to as a guardian, conservator, executor, administrator, trustee, representative payee, custodian or, in some cases, an attorney-in-fact (agent). A fiduciary is a person who has been entrusted with the responsibility to manage the assets or rights of another person. Also, a person named in an informal trust as In Trust For (ITF) or Payable on Death (POD) beneficiary on bank records. What is the difference between a beneficiary and a fiduciary?Ī beneficiary is the person or persons who receive the assets of an estate after all debts are satisfied. Probate is the process of gathering a decedent's assets, paying the creditors and any taxes owed and then distributing the remainder according to the will (testate distribution) or state law (interstate distribution), as applicable. To obtain these documents, please consult your personal legal counsel The requirements and availability of this process vary from state to state. This document may be used to disperse a deceased customer's account when formal probate is not required under state law. To obtain these documents, please consult your personal legal counsel.įor small estates we may request a properly executed small estate affidavit or court order, in accordance with state laws. Either of these documents serves to confirm the identity of the deceased account holder and party/parties who have authority to handle the estate. These documents are issued by the court when formal probate of an estate is required under applicable state law. We'll work with you on what may be required specific to your needs.įor formal probate we may request court-issued letters testamentary or letters of administration appointing an executor or administrator. The laws of the state of residence of the deceased provide state-specific rules for requesting and transferring the deceased customer's funds, which may impose additional requirements. It depends on your specific circumstances. What other documents might Bank of America ask for? You may also fax the death certificate to 86 or mail it to: ![]() You can schedule an appointment schedule an appointment schedule an appointment at a financial center near you and bring the death certificate in person. How should I deliver the death certificate to Bank of America? The complexity of the estate and the number of institutions with which the deceased conducted business will help you determine the number of copies you need. It's a good idea to obtain multiple certified copies of the death certificate you're likely to be asked for one by various institutions as you go about settling the deceased's affairs. ![]() You may send a legible photocopy however, depending on the circumstances, we may require a certified copy.Ī certified copy of the death certificate is generally available from the funeral director who handled the deceased's funeral arrangements, or from the Registry of Births, Deaths and Marriages in the applicable state, county, parish or territory. The death certificate gives us the information needed to verify the identity and legal residence of our customer.Ĭan I send Bank of America a photocopy of the death certificate? Why do I need to provide Bank of America with a copy of the death certificate?
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