I am the administrator of a deceased person's estate.
Nix on investments but everything else is fair game!
Mary, when accounts are opened with any bank, in addition to federal regulations, the treatment of the account falls under state law. In the case of estates, New Jersey operates in a unique manner, requiring the request to close a deceased customer's account to be reviewed by the state department of taxation prior to the release of any funds.
Once you have submitted the request to New Jersey and it is approved, the state notifies the bank to release the funds.
There is no argument that this is a complicated process but it is not one the bank has any power over. Everything will be taken care of once all the state-required steps have been taken.6 comments
Bankbuster is correct in that each state has their own rules and regulations around deceased account holder's accounts. If you have already sent all the information in, your best bet is to follow the instructions of the BOA reps and allow the process to take its due course. New Jersey is a funny state where it does have a state approval process before funds will released to the administrator of the estate.
I would actually suggest to go back into the branch you initially went in to and call the Estate Unit with the representative that originally assisted you. That way there is no way for any communication to be lost and to ensure that you are able to receive the funds in a timely manner.
Hope that helps and good luck!
From past 8.5 years, servicing Bank of America clients through Customer Services, Chat Texts options related...
If you still didn't got right answer to your question, you can talk to Fredrick Niemann, Probate Law and Estate Administration Attorney at firstname.lastname@example.org or call him toll-free at (855) 376-5291.
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