Dear Dave,
My husband died eight years ago, and I never closed his bank accounts that were opened when we lived in another state. We lived in Florida before moving to Oregon. I didn’t probate the estate, and he did not have a will. I’m trying to work with the banks to get this settled, but they’re giving me the runaround. Do you have any advice?
Melinda
Dear Melinda,
The first thing you need to do is contact an attorney who handles estate planning. If the accounts were opened in Florida, but you both lived in Oregon at the time of his death, technically the estate would be probated in Oregon. That may be what has to happen. If so, a judge would appoint you as executor. As executor, you can close the accounts and disperse any money to the rightful heir—which is you.
Be prepared, though. It may take somewhere between $250 and $500 in attorney fees and court costs to make this happen. If you’re lucky, you might get a simple motion from the court that would cost you next to nothing. But find a good estate planning attorney who knows Oregon law inside and out. Estate laws and probate laws differ from state to state, and Florida and Oregon both have some weird laws in these areas.
This probably seems like a lot of trouble, but you have to remember the banks are simply trying to protect themselves and follow the law. Anyone could walk in with a death certificate (they’re public record), and claim to be an heir. So, they have to have a court document in order to avoid any potential liability.
I’m sorry for your loss, Melinda. I know it still hurts after all this time, but you need to address this as soon as possible. I’m sure it’s what your husband would have wanted.
—Dave
Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.