Q: Can a bank release funds after the death of one spouse to the surviving spouse without the surviving spouse going
through probate when the account is not a joint account or a POD (payable on death) account. I understand that some states allow heirs to sign affidavits for small estates. But is this something that has to be done through the court system or can a bank just have a potential heir, such as a spouse, just sign a document with them and then release the funds.
A: In most states there are procedures for small estates that permit the heirs to sign an affidavit of heirship and obtain the decedent's bank funds up to certain amounts. Banks can release funds under such circumstances. If you believe this was done fraudulently, you should speak to an attorney.
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