What to do when a Langley account holder dies
Report the death to Langley's Deceased Representatives at 1-800-826-7490
When a member of Langley passes away, the Deceased Representatives handles the transition of accounts to beneficiaries or the estate. Accounts with Payable on Death designations or trust ownership transfer outside of probate, while solely-owned accounts may require Letters Testamentary or Letters of Administration from the probate court.
Death claim process
To file a claim after an account holder's death, here is what Langley requires:
Filing a claim
- A certified copy of the death certificate
- A certified copy of the Letters of Qualification (Testamentary or Administration), if you have been appointed
- Government-issued ID for the claimant
- Trust documents or the estate's EIN, if Langley has asked for them
Required Documents
- Certified copy of the death certificate
- Certified copy of the Letters of Qualification, if a personal representative has been appointedLetters of Testamentary or Letters of Administration.
- Government-issued ID for the person settling the accountThe booklet asks for your own identification documents as next of kin.
- The estate's Employer Identification Number (EIN), if Langley requires an estate accountLangley may request additional documents depending on the account.
- Trust documents, if a trust is the beneficiary or the account is trust-titledLangley may request additional documents depending on the account.
What happens to each kind of account9
- Account in one name
Individually-owned accounts with no designated beneficiary are closed and the funds paid to the estate after any outstanding Langley loans are satisfied.1
When an account owner dies, the interest passes to the owner's estate, payable-on-death beneficiary or trust beneficiary. This is subject to Langley's protection for transactions honored before notice of the death, any pledge the owner granted, and Langley's statutory lien.2
- Payable-on-death account
Individually-owned checking, savings, money market and certificate accounts with designated beneficiaries are closed and the funds paid to the beneficiaries after any outstanding Langley loans are satisfied.1
Multiple surviving payable-on-death beneficiaries own the funds jointly in equal shares, without rights of survivorship, unless state law provides otherwise.2
- Joint account with survivorship
The account stays open pending documentation. Langley then re-titles it to the joint owner or confirms closure. Where the account carries a loan or an IRA, the surviving joint owner opens a new Langley membership rather than keep the deceased member's account number.1
- Joint account without survivorship
Langley requires supplementary documentation setting out how the deceased member's share is to be distributed.1
- Certificate of deposit
On a jointly-owned certificate, the surviving joint owner may move the funds "as is" into a new certificate with the same dividend rate and maturity date, or cash the certificate in with no early-withdrawal penalty.1
- IRA
IRAs are handled separately by the IRA Department because of the tax consequences.1
A payable-on-death or trust beneficiary designation on a deposit account never applies to an IRA. Langley's statutory lien and pledge do not reach an IRA or any account that would lose its tax treatment if given as security.2
- Credit card
A sole-borrower Langley credit card is frozen, and interest stops accruing as of the date Langley receives the death certificate. The estate pays the balance, statements keep going to the address on file, and authorized users lose access.1
A card with a surviving co-borrower can stay open and be retitled in the co-borrower's name if requirements are met. The co-borrower keeps making payments, and statements move to their address.1
- Loan
On a mortgage, home equity, auto, personal loan or line of credit, a co-borrower stays responsible and may pay the loan off or have it placed solely in their name. For a sole-borrower loan, the appointed representative contacts Langley to refinance, pay off, or surrender.1
Langley first checks whether the member carried voluntary payment protection on the loan and, if it qualifies, applies the proceeds to the balance before looking to the estate. If a paid claim leaves the loan at $0, any remaining money goes back to the survivor or the estate.1
- Safe deposit box
Boxes are held at eight branches only: Aberdeen, Coliseum, Denbigh, Hampton Blvd, Oyster Point, Poquoson, Williamsburg New Town and Yorktown. The annual renewal fee is debited from a designated Langley account. Losing both keys leaves the member responsible for locksmith fees that may exceed $400.3
Accounts handled elsewhere3
- Langley IRA Department
A deceased member's IRAs1
Phone: 1-757-825-7103
Fax: 1-757-825-7146
- Langley Collections
Questions about a deceased member's loans (extension 7109)1
Phone: 1-800-826-7490
- Langley Commercial Lending
Commercial real estate loans1
Phone: 1-757-224-4777
What Langley's agreement and guidance say6
- Payments after the death
Langley may honor transfers, withdrawals, deposits and other transactions until it knows of the member's death. Even then, it may pay checks and other orders the member authorized for ten days after death, unless someone claiming an interest in the account tells it to stop payment.2
- Indemnity a claimant may have to give
Langley may require anyone claiming a deceased owner's funds to indemnify it against losses resulting from honoring that claim.2
- Debts owed to the institution
Langley may apply personal account balances to the member's outstanding Langley loan balances before releasing funds. The estate and any surviving co-borrowers remain liable for the rest.2
A surviving joint owner's interest is subject to Langley's statutory lien for the deceased owner's obligations, even if the survivor never consented to the pledge.2
- Deposits after the death
Direct deposits into the deceased member's individual or jointly-owned accounts are rejected once Langley verifies the death. Langley returns Social Security direct deposits on the Social Security Administration's request or on a reclamation notice.1
- What it does when notified
Langley Bill Pay payments are discontinued, and automated transfers in or out of an individual account are rejected. Transfers on jointly-owned accounts keep processing.1
- Wills, probate and small estates
Langley will not release funds until it has verified proof of death and the claimant's legal right to the funds. A will does not establish that right until it has been entered into probate and a personal representative has been granted authority.1
Langley's Deceased Representatives can be reached by phone at 1-800-826-7490 and email at DeceasedRepresentatives@langleyfcu.org for questions throughout the claims process.
Sources
Data sourced from Langley primary sources (20 pages reviewed). How we research.
Langley death claims support
Deceased Representatives (Deceased Member Support)
Phone
Toll-free
Member Experience Center (general)
Collections (deceased borrower loans)
Commercial Lending (commercial real estate loans)
Hours
Mailing address
Website
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