What to do when a F&M Bank account holder dies
Report the death to F&M Bank's F&M Client Care Center at 1-866-437-0011
After an account holder at F&M Bank dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact F&M Bank's F&M Client Care Center at 1-562-344-2370 with the proper legal authority documents.
Deposit, investment & retirement accounts
Here is the step-by-step death claim process at F&M Bank:
Filing a claim
- Named payable-on-death beneficiary: the death certificate and photo ID, and ask for distribution of the account
- Surviving joint owner: the death certificate, so the title can be updated to the survivor
- Executor or administrator: Letters Testamentary or Letters of Administration
- Successor trustee: a notarized Certification of Trust plus the trustee's photo ID
- Small estate successor: a completed California small-estate affidavit
- A certified copy of the death certificate
- A copy of the claimant's government-issued photo ID
- Letters Testamentary, Letters of Administration, a notarized Certification of Trust, or a California small-estate affidavit, as applicable
Forms F&M Bank issues1
- IRA beneficiary claim and distribution election paperwork
Completed by the IRA beneficiary. Sent by the institution on request.1
What happens to each kind of account6
- Payable-on-death account
The bank may pay the surviving payable-on-death beneficiaries, net of anything the owner, a joint owner or a beneficiary owes the bank, and may distribute the balance jointly or individually to each survivor.2
- Joint account with survivorship
Ownership passes to the surviving owner or owners.2
- Account in one name
Ownership of an individual account with no payable-on-death beneficiary is determined by the account agreement or by state law.2
- Trust account
On a formal trust account, the successor trustee acts on a notarized Certification of Trust.2
- Custodial account (UTMA/UGMA)
If the custodian of a UTMA account has died, the bank recognizes a designated successor custodian.2
- Safe deposit box
Safe deposit boxes fall outside the deposit agreement. A box the deceased person held is raised with the bank separately.2
Accounts handled elsewhere1
- Equiniti Trust Company
Shares of the bank's own stock, as its transfer agent1
Phone: 1-800-937-5449
Mailing address: 55 Challenger Road, Floor 2, Ridgefield Park, NJ 07660
What F&M Bank's agreement and guidance say7
- Telling the institution
"You agree to notify us promptly of the death or court-declared incompetence of any owner, authorized agent, authorized signer or designated beneficiary on your account."2
- Powers of attorney
All special authorizations are revoked on death. A power of attorney or an authorized signer loses access once the bank has notice of the death.2
- Payments after the death
Even after it has notice of the death, the bank may pay checks drawn on or before the date of death for ten days after that date, unless a person claiming an interest in the account orders a stop payment.2
- Deposits after the death
On notification the bank "may freeze, return, or refuse further deposits, such as government or retirement benefit payments that were credited to an account after the death of the client".2
- Debts owed to the institution
The bank's right of set-off reaches "both accounts you own individually and accounts you own jointly with others", and extends to electronically deposited federal or state benefit payments, including Social Security, received after eligibility ended.2
- Disputes between claimants
Where the bank "has any question as to the ownership of funds or the amount of funds that belong to any person upon the death of an owner", it may freeze all or part of the account pending proof satisfactory to it.2
Under its adverse-claims clause the bank may instead deposit the funds with a court and ask the court to decide.2
- Dormant and unclaimed accounts
For a California resident, if the bank does not hear back after notifying of dormant status, the funds are remitted to the State of California at the end of three years. The account is closed, interest stops, and the money is reclaimed from the State Controller's Office.2
A dormant account keeps being charged a normal monthly service charge.2
Not in F&M Bank's published guidance2
- How long a claim takes
- A list of required documents
Sources2
- 1.Contact Us
- 2.Terms & Conditions, April 2024
Mortgage and home lending
Mortgages and home equity loans are liabilities, not assets. They do not have beneficiaries and cannot be retitled to a trust.
- Continue paying the existing loan
- Assume the loan, if the servicer offers assumption on that product
- Refinance in the successor's own name
- Pay the loan off in full
- Mail to Farmers and Merchants Bank of Long Beach, Attn: Loan Payoff Unit, PO Box 337, Lakewood, CA 90714-0337
- Phone (562) 485-3522, fax (562) 344-2289
- The servicer warns that a request missing the loan number or an authorized signature may be delayed
Claims Contact
Phone: 1-562-485-3478
Fax: 1-562-344-2289
Mailing address: Farmers and Merchants Bank of Long Beach, PO Box 337, Lakewood, CA 90714-0337
Federal law on calling a home loan after a death
These exemptions apply to a loan secured by residential real property containing less than five dwelling units.12 U.S.C. § 1701j-3(d); 12 CFR 191.5(b), 141.14Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety.12 U.S.C. § 1701j-3(d)(3); 12 CFR 191.5(b)(1)(iii)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer to a relative resulting from the death of a borrower.12 U.S.C. § 1701j-3(d)(5)Verified Oct 3, 2026View source
- A lender may not exercise a due-on-sale clause upon a transfer where the spouse or children of the borrower become an owner of the property.12 U.S.C. § 1701j-3(d)(6)Verified Oct 3, 2026View source
A federal regulation sets further conditions on these transfers.12 CFR 191.5(b)(1)(v)Verified Oct 3, 2026View source
Accounts handled elsewhere1
- F&M loan modification and foreclosure avoidance line
Loan workouts where the estate cannot carry the payment while the property is sold or refinanced1
Phone: 1-855-669-8980
Not in F&M Bank's published guidance4
- A claim form
- Whether the death certificate must be certified
- How long a claim takes
- A list of required documents
Sources1
- Pay the outstanding balance from estate funds or sale proceeds
- Refinance the debt into the successor's name
- Agree repayment terms with the bank
What happens to each kind of account1
- Loan
A home equity line is a credit facility rather than a transferable asset, so it does not pass to the estate as an asset. Further draws after the borrower's death are at the bank's discretion.1
Not in F&M Bank's published guidance3
- A procedure for reporting a death
- How long a claim takes
- A list of required documents
Sources1
F&M Bank's F&M Client Care Center can be reached by phone at 1-866-437-0011 and fax at 1-562-344-2371 for questions throughout the claims process.
Sources
Data sourced from F&M Bank primary sources (14 pages reviewed). How we research.
F&M Bank death claims support
F&M Client Care Center
Phone
Toll-free
Fax
Hours
Mailing address
Website
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