What to do when a Valley account holder dies
Report the death to Valley at 1-800-522-4100
What happens to Valley accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with Valley Wealth & Trust (1-973-305-3500) to claim the funds.
Begin by calling Valley at 1-973-305-3500. You will need the deceased's full name, account numbers, and the death certificate to get the process started.
Deposit, investment & retirement accounts
The death claim process at Valley works as follows:
Filing a claim
Required Documents
- Court order (letters) appointing the executor or administrator, to open an estate account
What happens to each kind of account1
- Fiduciary account
Valley's deposit account agreement permits accounts opened and maintained by executors and administrators under court orders. Valley does not monitor or enforce the terms of the letters.1
State requirements Valley statesNew Jersey, Alabama, Florida
- New Jersey
A joint account with survivorship belongs to the surviving party or parties. Pay-on-death payees can withdraw only after every party who created the account has died, and only if the payee is then living.1
- Alabama
A single-party account passes as part of the deceased party's estate. A pay-on-death account passes to the named beneficiaries outside the estate.1
- Florida
A single-party account passes as part of the deceased party's estate. A pay-on-death account passes to the named beneficiaries outside the estate.1
State law on paying a balance without lettersFlorida, New York
- Florida
Fla. Stat. § 735.303
Florida law permits a bank to pay from a deceased depositor's balance on an affidavit made under oath, without letters testamentary or letters of administration.Fla. Stat. § 735.303Verified Oct 3, 2026View source
Paid to: family member (surviving spouse; else adult child; else adult descendant; else parent)
Limit: $2,000 held at the institution and $2,000 in total from every holder
When: not earlier than 6 months after the date of the decedent’s death
The section permits the payment. It does not require the bank to make it. The section sets further conditions.
- New York
N.Y. SCPA § 1310
New York law permits a bank to pay from a deceased depositor's balance on an affidavit made under oath, without letters testamentary or letters of administration.N.Y. SCPA § 1310Verified Oct 3, 2026View source
Paid to: surviving spouse
Limit: $30,000 in total from every holder
When: forthwith
Paid to: surviving spouse, children eighteen or older, either parent, brother or sister, niece or nephew, or at their request a creditor or the person who paid the funeral expense
Limit: $15,000 in total from every holder
When: not less than thirty days after the death
Paid to: a distributee, a creditor, or the person who paid the funeral expenses
Limit: $5,000 held at the institution and $5,000 in total from every holder
When: not less than 6 months after the death
The section permits the payment. It does not require the bank to make it. The section sets further conditions.
Accounts handled elsewhere1
- Valley Wealth & Trust
Acting as agent for an executor or trustee: estate recordkeeping, investing estate assets, probate court reports2
What Valley's agreement and guidance say3
- Telling the institution
Valley's deposit account agreement calls for prompt notice when a person with a right to withdraw funds from an account dies.1
- Payments after the death
Valley may keep honoring checks and instructions until it knows of the death and has had a reasonable opportunity to act on it.1
Valley may pay or certify checks drawn on or before the date of death for up to 10 days after the death, unless someone claiming an interest in the account orders it to stop payment.1
- Which state governs the account
The ownership rules at death depend on the state of the Valley branch that holds the account. The agreement sets different rules for accounts held at New Jersey, New York, Alabama and Florida branches.1
Not in Valley's published guidance2
- A mailing address for claim documents
- Whether the death certificate must be certified
Sources2
- 1.Deposit account agreement, VNBWK Rev.07/01/2025
- 2.Agent for Executor or Trustee
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.
- Call Valley Bank Mortgage Servicing at 800-526-9098 (Option 5, Mortgage Customer Service) or 973-305-5900
- Email General Residential Mortgage Customer Service at MSICS@valley.com
- Mail the written request to Valley National Bank, Mortgage Services, 1720 Route 23, Wayne, NJ 07470-7533
- Include the name, loan number, property address, and a description of the information requested
- Mail payments to P.O. Box 953, Wayne, NJ 07474-0953, or drop them off at a Valley branch
- Pay by phone from a checking or savings account at 866-439-6650
Claims Contact
Phone: 1-800-526-9098
Email: MSICS@valley.com
Hours: Monday-Friday 8:00 AM-4:30 PM
Mailing address: 1720 Route 23 North, Wayne, NJ 07470
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 Valley's published guidance2
- A procedure for reporting a death
- A list of required documents
- Call Valley at 1-800-522-4100 and dial Home Equity extension 7842, 2244, 5566, or 5564
- Email Home Equity Loan/Line of Credit Inquiries at HomeEquity1@valley.com
- Call 1-800-522-4100, Home Equity Payment extension 3325 or 3327
- Email Home Equity Loan/Line of Credit Payments at financial@valley.com
Claims Contact
Phone: 1-800-522-4100
Email: HomeEquity1@valley.com
Not in Valley's published guidance2
- A procedure for reporting a death
- A list of required documents
Valley Wealth & Trust can be reached by phone at 1-973-305-3500 for questions throughout the claims process.
Sources
Data sourced from Valley primary sources (30 pages reviewed). How we research.
Valley death claims support
Customer Care
Phone
Calls from outside the U.S. and Canada
Hours
Website
Death notifications go through general customer service.
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