What to do when a First Merchants account holder dies
Report the death to First Merchants' Death Claims at 1-800-205-3464
What happens to First Merchants accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with First Merchants' Death Claims (1-800-205-3464) to claim the funds.
Deposit, investment & retirement accounts
Here is the step-by-step death claim process at First Merchants:
Filing a claim
- Payable-on-death accounts: present your ID and the death certificate to claim the funds directly
- Estate accounts: Letters Testamentary or Letters of Administration, with the death certificate
- Trust accounts: trust documents identifying you as successor trustee, with the death certificate
- A copy of the death certificate
- The deceased owner's full legal name, date of death and account numbers
- Your capacity (payable-on-death beneficiary, surviving owner, executor or successor trustee) and a copy of your government-issued photo ID
- Your Letters Testamentary or Letters of Administration, small estate affidavit, or Certification of Trust
- Payment instructions: a check payable to the estate or beneficiary, or an account to credit
Required Documents
- Death certificate
- Government-issued ID for the beneficiary, executor or successor trustee
- Letters Testamentary or Letters of Administration, if the account has no payable-on-death beneficiary and no survivorship, or is joint without survivorship
- Small estate affidavit, if the governing state allows one and the estate qualifies
- Trust documents or Certification of Trust, and the successor trustee's ID, if a trust is the owner or beneficiary
- Account information (statements, account numbers)
- Proof that a lineal descendant survived a predeceased beneficiary, for an Indiana "with LDPS" payable-on-death account, where a substitute beneficiary is claiming
What happens to each kind of account5
- Payable-on-death account
The surviving beneficiary presents a death certificate and government-issued ID to claim the funds directly.1
Michigan and Ohio accounts follow the agreement's "Revocable Trust or Pay-On-Death Account" rule: beneficiaries cannot withdraw until all persons creating the account have died, and only a beneficiary then living may withdraw.2
- Joint account with survivorship
The surviving owner presents the death certificate and the deceased owner is removed from the account.1
- Joint account without survivorship
On a joint account without survivorship (tenants in common), the deceased owner's share belongs to the estate, not the surviving owner. The executor presents the appointment documents.1
- Credit card
First Merchants consumer credit cards are issued by Elan Financial Services, not by the bank. The balance is a debt of the estate and is reported to Elan, not to the banking center.1
- Loan
First Merchants is moving its mortgages to the subservicer Dovenmuehle Mortgage, Inc. (DMI) in batches, and payments keep going to First Merchants until a Notice of Servicing Transfer arrives. The loan stays owned by First Merchants either way.1
State requirements First Merchants statesIndiana
- Indiana
Indiana payable-on-death accounts come in two forms, "Pay-on-Death Account with LDPS" and "Pay-on-Death Account No LDPS". With LDPS, a beneficiary who dies before the owner is replaced by that beneficiary's lineal descendants per stirpes, who must themselves survive the owner.2
With No LDPS, a beneficiary who dies before the owner drops out, and the surviving beneficiaries take in equal shares unless other percentages were designated in writing.2
Accounts handled elsewhere3
- First Merchants Private Wealth Advisors
Trust, investment and IRA accounts it administers, settled by its fiduciary administration team1
Phone: 1-866-238-0082
- Elan Financial Services
First Merchants consumer credit cards, which Elan issues1
Phone: 1-800-558-3424
- Dovenmuehle Mortgage, Inc. (DMI)
First Merchants mortgages that have received a Notice of Servicing Transfer, including Successor in Interest requests1
Phone: 1-855-745-4338
Hours: Monday-Friday 8:00 AM-7:00 PM
What First Merchants's agreement and guidance say3
- Telling the institution
Section (30) "Death or Incompetence" of the deposit account agreement requires you to tell the bank promptly when any person with a right to withdraw from the account dies.2
- Payments after the death
The bank may keep honoring checks, items and instructions until it knows of the death and has had a reasonable opportunity to act. It may pay or certify checks drawn on or before the date of death for up to ten days after the death, unless someone claiming an interest in the account orders a stop payment.2
- Deposits after the death
Under section (15) "Reimbursement of Federal Benefit Payments", the bank may deduct a federal benefit payment it must return because it arrived after the death from the account, or from any other account you hold with it, without prior notice.2
Not in First Merchants's published guidance4
- A procedure for reporting a death
- A claim form
- A mailing address for claim documents
- Whether the death certificate must be certified
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.
- Give the deceased borrower's full legal name, Social Security number and loan number
- Submit a copy of the death certificate
- Request the Successor in Interest application
- Provide documents proving your ownership interest in the property, such as a probated will, court order, deed or trust document
- The servicer reviews the documents and confirms your status
- Continue making payments on the existing terms
- Apply for loss mitigation as a confirmed Successor in Interest
- Assume the loan, refinance, or pay off the balance
Required Documents
- Death certificateA certified copy.
- Government-issued photo ID for the heir or personal representative
- Documents proving the ownership interest in the propertyA probated will, court order, recorded deed or trust document.
- Letters Testamentary or Letters of Administration, if the estate is going through probate
- Marriage certificate, for a surviving spouse
- Trust document showing the successor trustee or beneficiary, if applicable
Claims Contact
Phone: 1-855-745-4338
What happens to each kind of account1
- Loan
First Merchants has partnered with Dovenmuehle Mortgage, Inc. (DMI) to subservice its mortgages, but loans transfer in batches. A loan that has not received a Notice of Servicing Transfer is still handled by the bank. First Merchants owns the loan either way.1
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
Sources1
- Give the deceased borrower's full legal name, Social Security number and account number
- Submit a copy of the death certificate
- Pay off the outstanding balance
- Refinance the debt
- Negotiate repayment terms
Required Documents
- Death certificateA certified copy.
- Government-issued photo ID for the heir or personal representative
- Documents proving the ownership interest in the propertyA probated will, court order, deed or trust document.
- Letters Testamentary or Letters of Administration, if the estate is going through probate
- Marriage certificate, for a surviving spouse
Claims Contact
Phone: 1-800-205-3464
What happens to each kind of account1
- Loan
What happens to the draw privilege and the outstanding balance after a death is set by the borrower's signed HELOC agreement.1
Not in First Merchants's published guidance1
- Terms in its agreements for a customer's death
Sources1
Payable-on-death accounts: typically 5 to 10 business days after the documents are complete.
First Merchants' Death Claims can be reached by phone at 1-800-205-3464 for questions throughout the claims process.
Sources
Data sourced from First Merchants primary sources (15 pages reviewed). How we research.
First Merchants death claims support
Death Claims
Phone
Private Wealth Advisors
Dovenmuehle Mortgage (DMI) - Successor in Interest
Elan Financial Services - credit card estate balances
Hours
Mailing address
Website
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