Close the Estate Bank Account
The last step in the Probate process is to officially close the Estate bank account. Only the Executor or Administrator can perform this function.
The estate bank account should only be closed when all bills have been paid, recurring payments canceled, and remaining assets of the deceased have been distributed to beneficiaries.
The executor or administrator should contact the financial institution where the account is held and notify them that they want to close the account. A bank representative will provide instructions for closing the bank account.
Ordinarily, the bank will have the executor or administrator sign an account closing form.
If there is any remaining balance in the account, it will be given to the executor or administrator, however all assets should have been distributed prior to closing the account.
If remaining assets exist, they should be distributed to the deceased's heirs and beneficiaries upon closing the account.