Decedent Account Bank Withholding In Georgia
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You'll need to get a tax identification number for the estate called an employer identification number (EIN).
Assets that have a named beneficiary. Many times you can name a beneficiary on a bank account, retirement account, or life insurance policy. These assets do not need to go through probate before they are distributed.
They generally will need to present to the bank with a certified copy of the decedent's death certificate, their own government-issued ID, and the trust instrument (or a certification of trust) in order for the asset to be released to them, although the documentation needed can vary from bank to bank, so it is best to ...
If the account has a payable on death beneficiary, the bank account balance goes to the beneficiary after the last account owner dies. A beneficiary can claim bank account funds by contacting the bank and providing a death certificate.
