What to do when a First Financial Bank account holder dies

On a single-party account without a P.O.D. designation, the balance passes through the estate, and the bank asks for Letters Testamentary or Letters of Administration.¹

A single-party account with a P.O.D. designation passes to the P.O.D. beneficiaries and is not part of the estate. The beneficiary presents the death certificate and photo ID.¹

A trust account passes to the named beneficiary on the death of the last surviving trustee, outside the trustee's estate. The successor trustee presents the trust agreement, the death certificate and ID.¹

On a multiple-party account with right of survivorship, ownership passes to the surviving parties. A P.O.D. designation on the account pays only after the last surviving party dies.¹

The parties own the account in proportion to their net contributions, and the deceased party's share passes through that party's estate under the will or by intestacy.¹

On a convenience account, the convenience signer does not own the account, and the balance passes through the last surviving party's estate.¹

Under the Fiduciary Accounts clause, the bank does not monitor or enforce the terms of a trust or of letters issued to an executor or administrator, and is not responsible for a fiduciary's misuse of funds.¹

Mortgage, home equity and consumer loans stay with the estate; the balance does not disappear at death. A successor who inherits the home must contact the servicing branch to be recognized.²

Accounts already under its management; it can serve as executor or co-executor³

Under the Death or Incompetence clause, the bank keeps honoring checks, items and instructions until it knows of the death and has had a reasonable opportunity to act on that knowledge.¹

On a convenience account, the bank may pay funds to a convenience signer before it receives notice of the last surviving party's death.¹

Checks drawn on or before the date of death may keep clearing for up to ten days after the death unless someone claiming an interest in the account orders the bank to stop payment.¹

Under the Reimbursement of Federal Benefit Payments clause, if the bank must return a benefit payment to the federal government, it may deduct that amount from the account or from any other account the same person holds at First Financial, without prior notice.¹

Under the Resolving Account Disputes clause, the bank may place an administrative hold on the funds when an account is subject to a claim adverse to survivors or beneficiaries, until a legal proceeding resolves the claim or the bank receives satisfactory evidence the dispute is settled.¹

The account selection on file (the Uniform Single-Party or Multiple-Party Account Selection Form) drives the payout path, not the will.¹