Special Counsel Jamil Daoud is quoted in a Bankrate.com article, “Called to account: Banking after death,” about what happens to deposit accounts and the money they hold when people die.
Daoud said survivors who may believe they can access a deceased relative’s account often find they cannot due to its ownership structure. “While the person is still alive you should confirm how the accounts are owned, because very often people are wrong in thinking they have access,” he said.
