Detailed Answer

This FAQ explains how to close an estate bank account and obtain the required closing statement under Missouri law. This is a practical, step‑by‑step guide for someone with no legal background. This is not legal advice.

Overview — who handles the estate bank account?

When someone dies, their bank accounts that belong to the decedent become part of the estate unless they pass directly to a beneficiary (e.g., payable‑on‑death, joint accounts, trust assets). The person responsible for collecting estate assets, paying debts and distributing property is the personal representative (PR). The PR may be called an executor (if named in a will) or an administrator (if appointed without a will).

Key Missouri law background

Missouri law governs probate, the duties of personal representatives, inventories and accountings for estates. See the Missouri Revised Statutes chapter on probate and administration for the statutory framework: https://revisor.mo.gov/main/OneChapter.aspx?chapter=474. Whether the probate is supervised or independent affects how much court involvement is required in closing the estate.

Step‑by‑step: Closing an estate bank account in Missouri

1. Identify whether the account is estate property. Confirm the account owned by the decedent and not automatically payable to a named beneficiary or co‑owner. If the account is payable‑on‑death (POD) or has a surviving joint owner, the bank will typically transfer funds outside probate.
2. Collect appointment documents the bank will require. Most banks will not release estate funds to a stranger. Provide a certified copy of the personal representative’s appointment paperwork (Letters Testamentary or Letters of Administration) issued by the probate court. If the bank asks, also supply a certified copy of the court order authorizing distribution. Obtain certified copies from the probate clerk.
3. Gather bookkeeping for the account. Assemble the account ledger, statements, checks paid from the account, receipts for estate payments, and any records of deposits. Your final account must show all money in and out of the estate account.
4. Pay valid debts and taxes first. Before you distribute funds to beneficiaries, pay estate debts, funeral expenses, last medical bills and any required taxes. Missouri law sets priority for creditor claims. If you are uncertain about claims, get legal guidance or reserve funds until the claim period lapses.
5. Prepare the estate final account (settlement account). The PR prepares a written accounting showing: starting balance, all receipts, all payments (with who was paid and why), and the ending balance. If the estate administration is supervised by the court, the PR must file this formal account with the court and give notice to interested persons. For independent administrations, the PR still prepares a final accounting and provides it to heirs/beneficiaries before distribution.
6. File a petition for final settlement or request discharge. To close the estate formally, file the required petition or motion with the probate court asking the court to approve the final account, make a distribution order, and discharge the PR from further duties. The court will review the account, allow objections or creditor claims, and enter an order approving the distribution and closing the estate.
7. Obtain the court’s order and certified copies. After the court approves the final account and enters an order of distribution and discharge, request certified copies of the order and the clerk’s endorsed documents. Banks commonly require a certified court order authorizing distribution or a court discharge of the PR.
8. Give the bank necessary documents and signatures. Provide the bank with the certified Letters, the court order (or certified final decree), and the PR’s identification. The bank will issue a closing statement or allow withdrawal/distribution according to the court order. Keep the bank’s closing statement and receipts in the estate file.
9. Obtain receipts from beneficiaries. When you distribute funds, get written receipts from each beneficiary acknowledging the money received. The court will expect these receipts as part of the proof that you satisfied the distribution order.
10. File any required proof with the court and receive discharge. If the court requires proof of distribution or receipts, file those documents. Once the court is satisfied, it will formally discharge the PR and close the estate case.

When the estate is small (informal or non‑probate alternatives)

Some small accounts may be handled without full probate: joint accounts, POD beneficiary designations, trust accounts or small‑estate procedures may allow direct transfer to heirs. Check whether the account can be transferred outside probate or whether a summary procedure (small estate affidavit) applies. The probate court clerk can explain local thresholds and forms.

What the bank’s closing statement is and why you need it

The bank closing statement (sometimes called a final bank statement or certification of balance and transactions) documents the final balance, interest, fees and disbursements. It provides a clear record that funds were available and how they were distributed. The court commonly requires this statement as part of the PR’s final accounting, and beneficiaries often request it for transparency.

Common issues and how to avoid them

• Missing documentation: Obtain certified copies of court documents early. Banks often will not accept uncertified photocopies.
• Disputed creditor claims: Hold a reserve until creditor deadlines pass or after creditors are resolved.
• Bank delays: Call the bank’s estate or trust department, explain the probate status, and ask for a written list of required documents.
• Unclear accounting: Keep clear, itemized records and use spreadsheets or accounting software to track every transaction.

Where to find forms and statutes

Missouri statute and probate rules provide the legal framework for filings, accountings and PR duties. See the Missouri Revised Statutes chapter on probate and administration: RSMo Chapter 474 (Probate & Administration). For local procedures and forms, contact the probate clerk at the county court where probate was opened or check the Missouri Courts website: Missouri Courts.

When to get help from an attorney

If the estate has creditors you cannot resolve, litigation among heirs, complex tax issues, or if you are unsure whether independent administration is appropriate, consult a probate attorney. An attorney can prepare a defensible final accounting, represent you at hearings, and reduce the risk of personal liability for the PR.

Disclaimer: This information is educational only and not legal advice. It does not create an attorney‑client relationship. For advice tailored to your situation, consult a licensed Missouri probate attorney.

Helpful Hints

• Before contacting the bank, assemble certified Letters of Administration/Letters Testamentary and a copy of the death certificate.
• Ask the bank for a written list of exactly which documents and forms it requires to close the estate account.
• Keep copies and a separate digital backup of all account statements, invoices and receipts used in the accounting.
• Keep a running spreadsheet of each transaction: date, source/purpose, check number or transfer ID, payee/recipient.
• Pay taxes and valid creditor claims before distributing funds to beneficiaries; document all payments.
• When distributing to beneficiaries, get signed receipts and keep them for the court file.
• If you anticipate disputes, consider filing a petition for settlement with the court early so the judge can resolve contested issues.
• When in doubt about Missouri‑specific rules or deadlines, contact the probate clerk of the county where probate was opened or a Missouri probate attorney.