Money & accounts
Notify banks, brokerages, and retirement accounts
Each financial institution has its own death notification process. Some assets pass to a beneficiary directly; others must go through probate.
- When to do it
- First two months.
- Estimated time
- 1–4 weeks per institution
What you’ll need
- Certified death certificate
- Account numbers and most recent statements
- Letters Testamentary (for accounts that require court appointment)
Steps
- Inventory accounts: checking, savings, brokerage, 401(k), IRA, pensions.
- Contact each institution and ask for their estate-services or decedent-accounts team.
- For accounts with named beneficiaries (TOD/POD, IRA, life insurance), the asset passes outside probate — you'll claim it as the beneficiary.
- For accounts without a named beneficiary, you'll usually need Letters Testamentary before the bank releases funds.
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Related tasks
- Notify the Social Security AdministrationIf the decedent was receiving Social Security, the funeral home usually reports the death. Confirm — and stop benefits to avoid clawbacks.
- Open an estate bank accountYou'll need a dedicated account in the estate's name to receive incoming funds and pay debts. Don't commingle with personal money.
- File the decedent's final income tax returnThe final 1040 covers January 1 through the date of death. The estate may also need its own tax return (Form 1041) if it has income during administration.