What to do when a First Merchants account holder dies
Contact First Merchants's Private Wealth Advisors - Fiduciary Services — 9-step process, 7 required documents, and pod accounts: typically 5-10 business days after documentation is complete. estate accounts: varies with how quickly the court issues letters. trust and investment accounts held through private wealth advisors follow the fiduciary administration team's own timeline.
Customer Service
First Merchants Bank, PO Box 549, Daleville, IN 47334
Private Wealth Advisors - Fiduciary Services
Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published)
First Merchants Bank, PO Box 549, Daleville, IN 47334
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's Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published) (765-747-1300) to claim the funds.
Death claims at First Merchants can be started through an online portal, which streamlines the initial notification and document upload. Phone and mail options are also available.
Deposit, investment & retirement accounts
Here is the step-by-step death claim process at First Merchants:
Filing a claim
- Indiana accounts are governed by the Transfer on Death Property Act (Ind. Code 32-17-14) and come in two POD flavors: "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
- With No LDPS, a beneficiary who dies before the owner simply drops out, and the surviving beneficiaries take in equal shares unless other percentages were designated in writing
- Under the Act's additional rules, a nonsurviving primary beneficiary with no LDPS substitute has their share reallocated among the surviving primary beneficiaries in proportion to their shares; if no primary beneficiary survives, contingent beneficiaries take; if no beneficiary at all survives, the account belongs to the owner's ESTATE
- Michigan and Ohio accounts use the simpler "Revocable Trust or Pay-On-Death Account" rule: beneficiaries cannot withdraw until all persons creating the account have died and the beneficiary is then living
- POD accounts: the surviving beneficiary presents a certified death certificate and government-issued ID
- Joint accounts with survivorship: the surviving owner presents the death certificate so the deceased owner is removed
- Joint accounts with NO survivorship (tenants in common): the deceased owner's share is an estate asset, not the survivor's -- the executor must present appointment paperwork
- Accounts with no POD and no survivorship: Letters Testamentary or Letters of Administration, or the small estate affidavit the governing state allows
- Trust accounts: certified death certificate, the trust document or Certification of Trust, and the successor trustee's ID
Required Documents
- Certified death certificate (original or certified copy)
- Government-issued ID for beneficiary, executor, or successor trustee
- Letters Testamentary or Letters of Administration (if no POD or survivorship)
- Account information (statements, account numbers)
- Trust documents or Certification of Trust and successor trustee ID (if trust is owner or beneficiary)
- Small estate affidavit (if the governing state allows one and the estate qualifies)
- Proof that a lineal descendant survived a predeceased beneficiary (Indiana LDPS accounts, where a substitute beneficiary is claiming)
What to know at this institution
First Merchants publishes no dedicated deceased/estate page and no named death-claim form; deposit claims are worked through the banking center and 1-800-205-3464. The specifics above come from the bank's own deposit account agreement (https://www.firstmerchants.com/docs/default-source/disclosures/terms-and-conditions.pdf): section (30) "Death or Incompetence" (prompt-notice duty; ten-day window in which checks drawn on or before the date of death may still be paid or certified unless stopped), section (15) "Reimbursement of Federal Benefit Payments" (the bank may deduct a returned federal benefit deposit from this or any other account you hold with it, without prior notice), and the state-specific ownership sections -- (7a) Indiana, (7b) Illinois, (7c) Michigan, (7d) Ohio. Indiana is the one to watch: its POD accounts run under the Transfer on Death Property Act (Ind. Code 32-17-14) and are offered in "with LDPS" and "No LDPS" variants, which produce different outcomes when a beneficiary predeceases the owner. Three account types leave the bank entirely: credit cards (issued by Elan Financial Services, 1-800-558-3424), mortgages (subserviced by Dovenmuehle Mortgage, Inc., 1-855-745-4338), and trust/investment/IRA accounts (First Merchants Private Wealth Advisors, 1-866-238-0082).
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. When a borrower dies, the loan obligation transfers with the property to whoever inherits it. Under the federal Garn-St. Germain Act, the lender cannot accelerate the loan or call it due when the property transfers to a surviving spouse, child, or the borrower’s revocable trust.
- Call Dovenmuehle Mortgage, Inc. (DMI), First Merchants' mortgage subservicer, at 1-855-745-4338
- Provide the deceased borrower's full legal name, Social Security number, and loan number
- Submit a certified copy of the death certificate
- First Merchants' Mortgage Assistance team can be reached through the bank at 1-800-205-3464 if you cannot resolve the request with DMI
- Request the Successor in Interest application
- Provide documentation proving your ownership interest in the property (e.g., probated will, court order, deed, or trust document)
- The servicer will review your documentation and confirm your status
- Continue making payments on existing terms
- Apply for loss mitigation as a confirmed Successor in Interest
- Assume the loan, refinance, or pay off the balance
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID for the heir or personal representative
- Documentation proving ownership interest in the property (probated will, court order, recorded deed, or trust document)
- Letters Testamentary or Letters of Administration (if going through probate)
- Marriage certificate (if surviving spouse)
- Trust document showing successor trustee or beneficiary (if applicable)
Claims Contact
Phone: 1-855-745-4338
What to know at this institution
First Merchants mortgages are subserviced by Dovenmuehle Mortgage, Inc. (DMI), so the death notice and Successor in Interest request go to DMI at 1-855-745-4338 even though First Merchants still owns the loan. Under the federal Garn-St. Germain Depository Institutions Act (12 U.S.C. 1701j-3), the lender cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Confirmed Successors in Interest are treated as borrowers under the CFPB mortgage servicing rules and are entitled to loan information and loss mitigation without first assuming the loan.
Prepare your letter of instruction to First Merchants
First Merchants accepts a claimant-drafted letter of instruction. We draft it for you — addressed to First Merchants's verified claims department, with the documents it requires enclosed.
Build your letter of instructionOpening an account for the estate itself
Checks made out to the estate deposit into an account titled to the estate, opened by the appointed executor or administrator under the estate's EIN.
How to open an estate account at First Merchants →How long the process takes at First Merchants: POD accounts: typically 5-10 business days after documentation is complete. Estate accounts: varies with how quickly the court issues Letters. Trust and investment accounts held through Private Wealth Advisors follow the fiduciary administration team's own timeline. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
First Merchants requires several documents to process a claim, including Certified death certificate (original or certified copy), Government-issued ID for beneficiary, executor, or successor trustee, and Letters Testamentary or Letters of Administration (if no POD or survivorship), and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
On Indiana accounts, First Merchants offers POD designations in two forms under the Indiana Transfer on Death Property Act (Ind. Code 32-17-14), and the deposit account agreement spells out the difference. With LDPS (lineal descendants per stirpes), if one of your named beneficiaries dies before you, that beneficiary's surviving lineal descendants step into their share. With No LDPS, a beneficiary who dies before you simply drops out, and the surviving beneficiaries take in equal shares unless you designated other percentages in writing. If no beneficiary survives you and no LDPS substitute exists, the account belongs to your estate and goes through probate. Ask your banker which variant is on your account -- the two are indistinguishable while every beneficiary is alive, and the choice only shows up at the worst possible moment.
It depends on the titling. POD accounts pass to the surviving named beneficiaries once they present a certified death certificate and valid ID, bypassing probate; on Indiana accounts the LDPS / No LDPS variant decides what happens to a predeceased beneficiary's share. Joint accounts with right of survivorship transfer to the surviving owner. Joint accounts with NO survivorship (tenants in common) do not -- the deceased owner's share is an estate asset. Accounts with no POD and no survivorship require Letters Testamentary or Letters of Administration. Trust-owned accounts pass under the trust to the successor trustee. In the first days, note two clauses of the bank's deposit account agreement: under section (30) "Death or Incompetence," First Merchants may pay or certify checks drawn on or before the date of death for up to ten (10) days after the death unless someone with an interest in the account stops payment; and under section (15), it may deduct any federal benefit payment it has to return to the government. Start the process at 1-800-205-3464 or a banking center.
First Merchants Private Wealth Advisors provides fiduciary administration and can serve as Trustee, Executor, or Guardian, alongside trust administration, estate settlement, investment management, and charitable planning. The bank has acted as a professional fiduciary for over 130 years; its fiduciary investment management team holds more than $1.9 billion in direct assets under management. Practically, this also decides who you call after a death: trust, investment, and IRA accounts held through Private Wealth Advisors are settled by that team at 1-866-238-0082 or 765-747-1300, not by a banking center.
Neither one is handled at the banking center. First Merchants mortgages are subserviced by Dovenmuehle Mortgage, Inc. (DMI) -- report the death and open the Successor in Interest request with DMI Customer Service at 1-855-745-4338; First Merchants still owns the loan, only the servicing sits with DMI. First Merchants credit cards are issued by Elan Financial Services, so the balance (a debt of the estate) is reported to Elan at 1-800-558-3424. On the mortgage side, the federal Garn-St. Germain Act (12 U.S.C. 1701j-3) bars the lender from calling the loan due when the home passes to a surviving spouse, a child, a relative on death, or the borrower's own revocable living trust, and a confirmed Successor in Interest is entitled to loan information and loss mitigation without first assuming the loan.
First Merchants's Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published) can be reached by phone at 1-800-205-3464 for questions throughout the claims process.
When the deceased had multiple First Merchants accounts, some may need separate claims while others can be handled together. The Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published) can clarify what's needed for each account type.
Sources
Data sourced from First Merchants primary sources (28 pages reviewed). How we research.
Customer Service
First Merchants Bank, PO Box 549, Daleville, IN 47334
Private Wealth Advisors - Fiduciary Services
Death Claims (handled through Customer Service and the banking center; no dedicated estate-claims department is published)
First Merchants Bank, PO Box 549, Daleville, IN 47334
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