Detailed Answer — Closing an Ohio Estate Bank Account and Obtaining the Required Closing Statement

Short answer: The person who has legal authority to administer the estate (the executor named in the will or the court-appointed administrator) must collect the estate funds, pay valid expenses and creditor claims, distribute remaining funds to heirs or beneficiaries, then ask the bank for a final account/closing statement showing a zero balance. If the estate is supervised by the probate court, the administrator usually must file a final accounting with the court before the bank will release or close estate accounts. If the estate is unsupervised and small, some transactions can be done with affidavits or by following bank-specific procedures.

Who can close the estate bank account?

Only someone with legal authority over the decedent’s estate can direct the bank to close an estate account. That is normally:

• The executor named in the will who holds letters testamentary, or
• The administrator appointed by the probate court who holds letters of authority.

Banks will require proof of that authority before releasing funds. In Ohio, those letters are issued by the local probate court as part of opening the estate file (see Ohio probate rules and the Ohio Revised Code on estate administration: Ohio Rev. Code Chapter 2113).

Step-by-step: How to close the account and get the closing statement

1. Confirm your authority. Obtain and keep the original Letters Testamentary or Letters of Authority from the probate court. Banks typically insist on certified or original court documents before they will release estate funds.
2. Gather required documents for the bank. Typical items banks ask for include: certified copy of the death certificate, the Letters Testamentary/Authority, the estate’s tax ID (if one was obtained), a valid photo ID for the fiduciary, and any account paperwork. Call the bank in advance to learn their exact checklist.
3. Collect and consolidate estate funds. Move checks and balances that belong to the estate into the estate account only after you have legal authority. Keep each transaction documented (deposit slips, check images, bank statements).
4. Pay estate expenses and valid claims first. Before closing the account, pay funeral bills, taxes, administrative expenses, and valid creditor claims. In Ohio, there is a required period for presenting creditor claims in probate — consult the probate court and Ohio Rev. Code Chapter 2117 for how claims are presented and allowed.
5. Prepare the estate accounting. For supervised estates (court supervision), prepare a formal final accounting (often called a fiduciary’s account, inventory and final settlement) showing all receipts, disbursements, and distributions. The probate court will review and approve this accounting before final distribution. For unsupervised estates, you still should prepare a clear written accounting for your records and for beneficiaries; many banks will still want to see evidence that distributions are authorized.
6. Distribute remaining funds to beneficiaries. After creditor and expense payments and after any court-required steps, distribute the remaining funds in accordance with the will or Ohio intestacy law.
7. Ask the bank for a closing statement. Once the account balance is zero (or you have transferred all estate funds out according to the estate plan and court orders), request the bank’s final statement or closing letter. This document should show the account number, the final balance, and a line confirming the account is closed. Keep the bank’s closing statement for the estate file and provide copies to the probate court if the court requires it.
8. If the probate court is involved, file what’s required. For supervised estates or where the court requires it, file the final account and a petition for distribution or discharge so the court can enter an order closing the estate. After the court’s order, banks will more readily comply and close accounts. See Ohio probate procedures at your local probate court and the Ohio Revised Code on estate administration (ORC Chapter 2113).
9. Keep complete records. Keep originals and certified copies of all documents, the final bank statement, receipts for distributions, proof of payments to creditors, and court orders. You may need these for tax filings, beneficiary questions, or to defend your handling of the estate.

Special situations to watch for

• Small estates or no probate needed. Ohio has simplified procedures for very small estates or for personal property collection by affidavit in some cases. Banks often have their own internal thresholds and may close accounts after seeing the necessary affidavits and identification. Ask both the probate court and the bank whether a simplified process applies.
• Joint accounts and payable-on-death (POD) designations. Accounts titled jointly with the decedent or marked POD may pass directly to the surviving owner or named payee and frequently do not become part of the probate estate. Banks still require a death certificate and identification from survivors before releasing funds.
• Estate taxes or ongoing obligations. If estate taxes or final income taxes are outstanding, banks may require evidence that taxes have been paid or that funds are reserved for those obligations before closing the account.
• Disputes among beneficiaries. If beneficiaries contest distributions or the executor’s actions, the bank may refuse to close the account until the dispute is resolved or the court issues instructions.

Where in Ohio law this comes from

Ohio’s probate laws that govern appointment of fiduciaries, administration of estates, and presentation of creditor claims are in the Ohio Revised Code. Useful starting places include:

• Ohio Rev. Code Chapter 2113 — Administration of Estates
• Ohio Revised Code (codes.ohio.gov) — home for searching specific sections and probate rules

Helpful Hints

• Contact the bank early. Ask for their estate account checklist and any forms the bank requires to close an estate account.
• Obtain multiple certified copies of the death certificate from the funeral home or health department — banks and government agencies often require originals or certified copies.
• Keep a separate estate file (digital and physical) with all receipts, invoices, bank statements, and correspondence.
• Get the bank’s closing statement in writing (printed and signed if possible). Do not rely solely on verbal confirmation.
• If the estate is supervised by probate, follow the court’s timetable for final accountings and distributions; the court’s approval protects the fiduciary from later claims.
• Ask for beneficiary receipts when you distribute funds; beneficiary acknowledgements protect the fiduciary and help close the estate cleanly.
• If you’re unsure about complicated issues (taxes, creditor disputes, unclear authority), consider consulting an Ohio probate attorney for specific guidance.

Disclaimer: This article explains general Ohio procedures and is educational only. It is not legal advice and does not create an attorney-client relationship. For advice about your particular situation, contact a licensed Ohio attorney or your local probate court.