What to do when a Northern Trust account holder dies
Report the death to Northern Trust's Wealth Management Client Services at 1-888-289-6542
After an account holder at Northern Trust dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact Northern Trust's Wealth Management Client Services at 1-888-289-6542 with the proper legal authority documents.
Deposit, investment & retirement accounts
Here is the step-by-step death claim process at Northern Trust:
Filing a claim
- Mail: Northern Funds, P.O. Box 75986, Chicago, IL 60675-5986
- Overnight: Northern Funds, 333 South Wabash Avenue, Dept. W-38, Chicago, IL 60604
- Fax: 312-557-0411
- On the Inherited IRA Claim form, requests requiring a Medallion Signature Guarantee must be mailed
Required Documents
- Certified copy of the owner's death certificate, for a Northern Funds TOD account
- Inheritance tax waiver or affidavit of domicile of the owner, for a Northern Funds TOD account, if applicable
- Medallion signature guaranteed instructions from each beneficiary, for a Northern Funds TOD account
- Form W-9 completed by each beneficiary, for a Northern Funds TOD account
- Certified death certificate, for a Northern Funds joint account, from the surviving joint ownerEvidence of the death.
- Inheritance tax waivers or affidavits of domicile, for a Northern Funds joint account, from the surviving joint owner, if applicable
- Letters testamentary or other official documentation, to open a Northern Funds estate accountA copy, certified within 60 days.
- Inherited IRA Claim and Distribution Request Form, for a Northern Funds IRA passing to a beneficiaryThe proper legal documents must be received before the fund processes the request.
- Letter of Instruction, for a Northern Funds request without a dedicated form
- Medallion Signature Guarantee, for a Northern Funds payment of $100,000 or more, or one sent to a bank account, payee, address or account other than those on fileThe Letter of Instruction form has a section for it.
Forms Northern Trust issues3
- Inherited IRA Claim and Distribution Request Form (Northern Funds)
Completed by the beneficiary. Available to download.1
- Letter of Instruction (Northern Funds)
Available to download.2
- New Account Application (Northern Funds)
Available to download.3
What happens to each kind of account5
- Account in one name
Under the deposit agreement, ownership of a single-party account passes as part of the owner's estate under the owner's will or by intestacy.4
- Joint account with survivorship
Under the deposit agreement, the deceased party's ownership of a joint account with survivorship passes to the surviving parties.4
In a Northern Funds joint account, the surviving joint owner may re-register the shares into sole ownership.5
- Payable-on-death account
Once all owners have died, a payable-on-death account is payable to the beneficiaries who survived them, in equal shares if there are two or more. If no beneficiary survives, Northern Trust may pay the balance to the estate of the last owner to die.4
- Fiduciary account
Personal representatives, executors, administrators or conservators under court orders may open and maintain a deposit account.4
- IRA
A beneficiary of a Northern Funds IRA files the Inherited IRA Claim and Distribution Request Form. A spouse beneficiary treating the IRA as their own uses the IRA Distribution Request form instead.1
State law on paying a balance without letters6 states
- Florida
Permits a bank to pay up to $2,000 on an affidavitFla. Stat. § 735.303Verified Oct 3, 2026View source
- 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
- Pennsylvania
Directs a bank to pay up to $20,000 on an affidavit20 Pa.C.S. § 3101(b)Verified 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)
Accounts handled elsewhere2
- Northern Funds Center
Northern Funds mutual-fund accounts, distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust6, 1, 2, 3
Phone: 1-800-595-9111
Fax: 1-312-557-0411
Hours: Monday-Friday 7:00 AM-5:00 PM CT
Mailing address: Northern Funds, P.O. Box 75986, Chicago, IL 60675-5986
- Northern Trust Securities, Inc.
Northern Trust Securities, Inc. brokerage accounts5
Phone: 1-800-621-4482
Help Northern Trust offers survivors2
- Estate Settlement Services
Where a will or trust names Northern Trust as executor or trustee, Northern Trust serves in that role. Its Estate Settlement Services cover asset safeguarding, collection, valuation, distribution and management, communication with beneficiaries, and tax preparation and review.5
Who qualifies: Estates and trusts that name Northern Trust as executor or trustee.
- Estate Settlement checklist
Lists the documents to locate, what the deceased person owned and owed and how each asset is titled, death notifications to employers, organizations and services, obtaining a tax ID number for the estate, and collecting assets into an account titled in the estate.7
What Northern Trust's agreement and guidance say2
- Payments after the death
Checks drawn on or before the date of death may be paid for up to ten days after the death unless someone claiming an interest in the account orders payment stopped.4
- How proceeds are paid
On the Inherited IRA Claim form, Northern Funds says to allow 10 days to receive a check by standard mail. Redemption proceeds are usually deposited in the designated bank account within 2-3 business days after the redemption request is processed.1
Not in Northern Trust's published guidance2
- How long a claim takes
- A list of required documents, for deposit accounts
Sources7
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.
Required Documents
- HUD-1 Settlement Statement for the current mortgage loan, for a loan modification
- Most recent W-2, for a loan modification
- A recent pay statement from the current employer, for a loan modification
- Documents for monthly expenses (utilities, other debt, medical expenses, insurance), for a loan modification
Claims Contact
Phone: 1-800-388-5316
What happens to each kind of account1
- Loan
Northern Trust states that a borrower who has missed payments, or expects to miss one, may be eligible for a loan modification.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
Not in Northern Trust's published guidance2
- A procedure for reporting a death
- How long a claim takes
Sources1
Required Documents
- HUD-1 Settlement Statement for the current loan, for a loan modification
- Most recent W-2 and a recent pay statement, for a loan modification
- Documents for monthly expenses (utilities, other debt, medical expenses, insurance), for a loan modification
Claims Contact
Phone: 1-800-388-5316
What happens to each kind of account1
- Loan
Northern Trust states that a borrower who has missed payments, or expects to miss one, may be eligible for a loan modification.1
Not in Northern Trust's published guidance2
- A procedure for reporting a death
- How long a claim takes
Sources1
Northern Trust's Wealth Management Client Services can be reached by phone at 1-888-289-6542 and fax at 1-312-557-0411 for questions throughout the claims process.
Sources
(3)·
Data sourced from Northern Trust primary sources (19 pages reviewed). How we research.
Northern Trust death claims support
Wealth Management Client Services (Northern Trust deposit accounts)
Phone
Northern Funds Center (mutual-fund accounts)
Northern Funds, overnight delivery
Mortgage servicing error notices and information requests
Client Services
Mortgage / home equity credit line payment assistance
Fax
Hours
Mailing address
Website
Estate planning articles
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Forms for Settling an Estate
Free forms for settling an estate: probate petition, small estate affidavit, creditor notice and closing forms. Prepare each form for your state.
Affidavit of Death
Put a joint owner's or a transfer on death deed owner's death on the land records with the affidavit your state's statute names, laid out for recording.
IRS Form 56
Notify the IRS that you are the fiduciary of an estate, a trust or a person, or end a notice filed before, on the official form.
Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines and taxes. Run each tool for your state.
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What Happens to Jointly Owned Property When an Owner Dies?
See what your state records when a joint tenant with right of survivorship dies: an affidavit, the death certificate or a new deed.
Do I Have to File Tax Returns for Someone Who Died?
Find out which tax returns need to be filed after someone dies and whether tax clearance is required.
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Personalized plan for settling an estate after someone passes away.
What Do I Do When Someone Dies?
A step-by-step checklist for the days, weeks, and months after a death, with state rules noted where they apply.
