What happens to your Novo accounts when you die

Novo offers only business checking accounts. The Novo Business Account Agreement states that the account is intended for commercial or business purposes.¹

The primary owner on an existing Novo account cannot be changed. A business that needs a new primary owner closes the account, and the new owner applies for a new one.²

Novo does not offer trust accounts. It does not open or retitle an account in the name of a trust.³

Novo verifies authority to act for the business. A trustee can open or manage a Novo account only if named in a legal document or appointed by a court, for example as an executor, administrator or conservator.³

One fiduciary can be added as a user on an existing account, if named in a valid trust document or appointed by a court, with the documentation provided. An added user has full access to the account, including the ability to move money.^{4, 6}