![]() ![]() If the account is joint without survivorship, the funds are typically evenly distributed between the surviving account owner and the estate of the deceased. You should still notify the bank as a courtesy, but you may not even need to provide a death certificate. If you are the next of kin and also the joint account holder, there’s nothing that you actually need to do. In a joint survivorship account, the account will belong solely to the other party on the account. That’s not necessarily the case with BB&T, as they offer two kinds of joint accounts: joint with survivorship and joint without survivorship. When one account holder dies, many banks will automatically pass sole ownership to the other account holders. A sole bank account is one person’s name, while a joint bank account will belong to two or more people who can contribute to it and withdraw money. There are a few different kinds of bank accounts: joint and sole. Step 1: Figure out what type of bank account you’re dealing with » MORE: Honoring your loved one doesn't have to be expensive. We’ve done it for you and have simplified the steps below. It can be frustrating and overwhelming for next-of-kin to have to parse all of that text. Often these terms are buried in paragraphs of legalese. While there are certain laws that regulate how banks operate, each one will have its own internal policies and procedures. How to Close a Deceased Loved One’s BB&T Bank Account We have a post-loss checklist that will help you ensure that your loved one's family, estate, and other affairs are taken care of. Tip: The other aspects of handling a loved one's unfinished business can be overwhelming without a way to organize your process. Here, we break down the steps you should take when closing down a BB&T account. Whether you’re closing your own account or closing one for a deceased loved one as part of your executor duties there are some things you’ll need to know. It often falls to loved ones to handle the responsibility of closing various accounts, such as canceling credit cards after a death or closing a bank account. How to Close Your Own BB&T Bank Account.How to Close a Deceased Loved One's BB&T Bank Account.Death is also a reason why a bank account may need to be canceled. You may be moving to an area that doesn’t have branches of your bank, or you may find that a different bank offers better benefits. Sometimes the bank we choose, though, no longer works for us. ![]() They want to find a bank that will help them maximize their financial potential. Learn more in our affiliate disclosure.Ĭhoosing the right bank is something most people take very seriously. As an Amazon Associate, we earn from qualifying purchases. We also may earn commission from purchases made through affiliate links. We follow a strict editorial process to provide you with the best content possible. ![]()
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