Disclaimer: This article is for educational purposes and does not constitute legal advice.
Detailed Answer
During probate in Mississippi, a personal representative (also known as an executor or administrator) manages the decedent’s assets, including bank accounts. You cannot directly access a deceased person’s account until the court appoints a representative and issues official letters. Here are the key steps:
- Locate the will and identify the personal representative. If the decedent left a will, it usually names an executor. Without a will, the court appoints an administrator. (Miss. Code Ann. § 91-7-51).
- Petition the probate court. File a probate petition in the county where the decedent lived. Provide the death certificate, will, and list of heirs.
- Obtain letters of administration or letters testamentary. The court issues official letters that empower you to act on behalf of the estate. Banks require these letters before releasing funds.
- Publish notice to creditors. Mississippi law requires notice to creditors. Publish notice in a local newspaper to allow claims (Miss. Code Ann. § 91-9-201).
- Inventory and appraisal. File an inventory of the estate’s assets. This includes listing the bank account balance (Miss. Code Ann. § 91-7-111).
- Present documents to the bank. Provide the bank with your letters and a certified death certificate. The bank will freeze the account until it verifies your authority.
- Withdraw funds as authorized. You may withdraw funds to pay estate expenses, debts, taxes, and distributions to heirs under Miss. Code Ann. § 91-9-301. Keep detailed records of all transactions.
- Distribute remaining funds. After debts and expenses, distribute the balance to beneficiaries according to the will or Mississippi’s intestacy rules (Miss. Code Ann. § 91-9-305).
Helpful Hints
- Keep certified copies of the death certificate for each bank.
- Contact the bank early to learn its requirements and fees.
- Track all withdrawals and deposits for accounting and reporting.
- Maintain communication with beneficiaries to manage expectations.
- Consult an attorney experienced in Mississippi probate for complex estates.
By following these steps and citing the proper statutes, you can access and manage a deceased person’s bank account during Mississippi probate safely and legally.