What to do when a STCU account holder dies

Joint ownership carries rights of survivorship unless otherwise stated, and the deceased owner's interest becomes the property of the surviving joint owners. A joint owner on accounts used to pay the deceased's bills may be able to delete or update those payments.^{1, 2}

The account is payable to the named surviving POD beneficiary upon the death of the last joint account owner.^{1, 2}

Where there is no joint owner or POD beneficiary, a court order may be required to designate a personal representative.^{1, 2}

A fiduciary account opened by a personal representative is owned by the estate.^{1, 2}

A joint signer on an STCU loan held by the deceased may have the option to skip the next payment. Interest continues to accrue.^{1, 2}

Members who live in Washington irrevocably waive the right to make a testamentary disposition of any STCU account. The account is payable according to its existing designations and the Membership and Account Agreement.^{1, 2}

After STCU learns of a member's death, it may pay checks or honor transfers authorized by the deceased member for ten days unless a person claiming an interest in the account instructs it to stop payment.^{1, 2}

STCU cannot accept a will as legal authority to access any account for which the claimant is not the joint owner.^{1, 2}

STCU may require anyone claiming funds to indemnify it for losses from honoring the claim.^{1, 2}

A personal representative is different from an agent under a power of attorney, whose authority ends at death.^{1, 2}