QUESTION
What happens to a person's bank accounts after they die?
Asked on Apr 19th, 2012 on Estate Planning - Pennsylvania
More details to this question:
What happens to a person's bank accounts after they die? My mother passed away last month. I do have POA and was signing checks, paying her bills. Is POA valid after death? Is her bank account frozen? How does the bank know of her passing?
1 ANSWER
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A power of attorney does not survive death. If you are a joint account holder you will likely still have access to the account. If your name is not on the account only a court-appinted administrator or executor can gain access to the account. The account should then be closed and an estate account opened. Hire a lawyer to advise, or check with your county's Register of Wills office for general information.
Answered on Apr 20th, 2012 at 1:42 PM