What to do when a Hanmi account holder dies
Report the death to Hanmi's Customer Call Center at 1-855-773-8778
What happens to Hanmi 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 Hanmi's Customer Call Center (1-855-773-8778) to claim the funds.
The first step is contacting Hanmi at 1-855-773-8778 with the account holder's full name, account numbers, and the death certificate in hand.
Deposit, investment & retirement accounts
To file a claim after an account holder's death, here is what Hanmi requires:
Filing a claim
What happens to each kind of account8
- Account in one name
An account in one name without a payable-on-death designation belongs to that person, and on death it "passes as a part of the party's estate under the party's will or by intestacy."1
- Payable-on-death account
On an account in one name with a payable-on-death designation, ownership passes to the payable-on-death beneficiaries and "the account is not a part of the party's estate." On a joint account with right of survivorship and a payable-on-death designation, they take ownership on the death of the last surviving owner.1
On a trust ("in trust for") account, a beneficiary may not withdraw before all trustees have died. On the last trustee's death ownership passes to the beneficiary, and the account is not part of the trustee's estate unless the trustee survived all beneficiaries and other trustees.1
- Joint account without survivorship
The owners own the account in proportion to their net contributions, and the deceased owner's share passes through their estate.1
- Joint account with survivorship
The deceased owner's ownership passes to the surviving owners on death.1
- Convenience account
A convenience signer does not own the account, and on the last surviving party's death ownership passes through that party's estate.1
- Trust account
A formal written trust that holds the account is not a "Trust Account" under the agreement's "in trust for" clause. The successor trustee provides the trust agreement or Certification of Trust and the death certificate.1
- IRA
Hanmi's security interest and set-off rights do not apply to IRAs or tax-qualified retirement accounts. The designated beneficiary provides a death certificate, photo ID and IRA distribution paperwork.1
- Representative payee account
On a representative payee or VA custodian account, when the beneficiary dies you must notify Hanmi promptly and immediately stop all further deposits and withdrawals. If the government demands the money back and the account is short, Hanmi may take the funds from any account you or the beneficiary owns.1
State requirements Hanmi statesNew York
- New York
The agreement's extension of set-off to federal or state benefit payments, including Social Security, "does not apply to New York customers."1
State law on paying a balance without letters4 states
- Georgia
Permits a bank to pay up to $15,000 on an affidavitO.C.G.A. § 7-1-239Verified Oct 3, 2026View source
- New York
Permits a bank to pay up to $30,000 on an affidavitN.Y. SCPA § 1310Verified Oct 3, 2026View source
- Texas
Permits a bank to pay up to $5,000 on an order of the courtTex. Est. Code § 152.051Verified Oct 3, 2026View source
- Washington
Permits a bank to pay up to $2,500 on an affidavitRCW 30A.22.190(2)Verified Oct 3, 2026View sourceRCW 30A.22.190(2)
Permits a bank to pay on an affidavit; the section sets no dollar limitRCW 30A.22.190(1)Verified Oct 3, 2026View sourceRCW 30A.22.190(1)
What Hanmi's agreement and guidance say6
- Wills, probate and small estates
The Deposit Account Agreement states the outcome on death for each ownership category. The way the account is titled, not the will, decides which outcome applies.1
- Telling the institution
Owners agree to notify Hanmi immediately of the death of any owner, authorized signer or designated beneficiary. Hanmi may pay a convenience signer before it receives notice of the death.1
- Deposits after the death
On an owner's death Hanmi "may freeze, offset, refuse and/or reverse deposits and transactions (e.g., governmental or retirement benefit payments payable to the deceased)." If it must return funds removed from the account after the death, "the other owners agree to reimburse us for the amount."1
- Disputes between claimants
If Hanmi has any question about the ownership or amount of funds belonging to any person on an owner's death, it may freeze all or part of the account pending proof satisfactory to it of each person's right to the funds.1
- Payments after the death
An item the owner authorized before death may still be paid after death.1
- Debts owed to the institution
"If an account owner owes us a debt at the time of their death, we are authorized to exercise our right of setoff or security interest rights against the account after such owner's death," even if a surviving joint owner, payable-on-death beneficiary or "in trust for" beneficiary has rights to the account.1
Not in Hanmi's published guidance3
- A procedure for reporting a death
- A claim form
- A list of required documents
Sources1
- 1.Hanmi Bank Deposit Account Agreement, effective 07/01/2025
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 making payments on the existing loan
- Assume the loan or refinance
- Pay off the remaining balance
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
Not in Hanmi's published guidance1
- A list of required documents
Hanmi's Customer Call Center can be reached by phone at 1-855-773-8778 for questions throughout the claims process.
Sources
Data sourced from Hanmi primary sources (15 pages reviewed). How we research.
Hanmi death claims support
Customer Call Center (deceased-account and estate claims)
Phone
Toll-free
Hours
Mailing address
Website
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