What to do when a Stock Yards Bank account holder dies

On a joint account with survivorship, the balance belongs to the surviving owner or owners.¹

On a revocable trust or pay-on-death account, beneficiaries can withdraw once all persons who created the account have died, provided the beneficiary is then living. Surviving beneficiaries share equally, without right of survivorship.¹

The Fiduciary Accounts clause allows an account to be opened and maintained by executors or administrators under court orders. By merely opening such an account, the bank takes on no obligation to monitor or enforce the terms of the letters.^{1, 2}

For a home mortgage, the bank publishes a separate successor-in-interest procedure.³

On an Indiana pay-on-death account, if no beneficiary survives all persons creating the account, the property belongs to the owner's estate unless a substitute beneficiary takes under the LDPS rules.¹

The consumer and business Terms & Conditions ask account holders to notify the bank promptly if any person with a right to withdraw funds from the account dies.^{1, 2}

Until the bank knows of the death and has had a reasonable opportunity to act on it, it may continue to honor the decedent's checks, items and instructions.^{1, 2}

The bank may pay or certify checks drawn on or before the date of death for up to ten days after the death unless ordered to stop payment by someone claiming an interest in the account.^{1, 2}

The Terms & Conditions allow the bank to set off funds in an account against any due and payable debt an owner owes it.¹