FAQ: Closing an Estate Bank Account and Getting the Required Closing Statement (Georgia)

Short answer: In Georgia, the person who has legal authority to manage the decedent’s estate (the personal representative—also called an executor or administrator) closes an estate bank account by using their court-issued authority (letters testamentary or letters of administration), providing the bank with required documents (death certificate, letters, identification), paying valid debts and expenses, distributing assets to heirs or beneficiaries, and producing a final accounting or closing statement. Whether you must file a court-approved final account depends on whether the estate is under supervised probate or unsupervised administration. This article explains the usual steps, the documents banks commonly require, and how to obtain the closing statement or final accounting under Georgia law.

Detailed Answer

Who can close the estate bank account?

Only the person who holds legal authority over the estate may lawfully close an estate bank account. In Georgia that is the personal representative named in the will and issued letters testamentary, or a court-appointed administrator with letters of administration if there is no will. Banks will usually insist on seeing the personal representative’s letters before permitting account closure or distribution of funds.

Typical bank requirements

• Certified copy of the decedent’s death certificate
• Certified or original letters testamentary or letters of administration issued by the probate court
• Personal identification for the personal representative (driver’s license, passport)
• Completed bank forms (bank may require its own affidavit or signature card)
• Sometimes a copy of the will (if applicable) or an inventory showing the funds being disbursed

Banks differ. Contact the bank first to confirm exactly what they need and whether they will accept a certified copy of the letters and an uncertified death certificate copy.

Step-by-step process to close the account

1. Open probate (if not already opened). If a probate administration is necessary, petition the probate court in the county where the decedent lived to be appointed personal representative and to issue letters. See rules on appointment in Georgia probate practice (O.C.G.A., Title 53). For official Georgia code, visit the Georgia General Assembly site: https://www.legis.ga.gov/.
2. Collect documentation. Obtain certified letters and certified copies of the death certificate from the funeral home or the vital records office. Banks often require certified or court-stamped letters.
3. Notify creditors and pay valid debts. Before distributing remaining funds, the personal representative must satisfy valid claims and estate expenses (funeral, taxes, administration costs). Georgia’s probate statutes describe procedures for presenting claims and priorities for payment; consult O.C.G.A. Title 53 for details: https://www.legis.ga.gov/.
4. Prepare an inventory and account. In most administrations you should prepare an inventory of estate assets and a final accounting of receipts, expenditures, and distributions. If the estate is under supervised administration, file the final account and petition for distribution with the probate court for court approval. In unsupervised administration, you still must maintain accurate records and provide an accounting to heirs or as the court later requires.
5. Get the bank to close the account. Present the bank with letters, death certificate, and your identification. Ask for a bank “closing statement” or “final account statement” showing the final balance and details of checks, fees, and the final disbursement amount. The bank will either issue its internal closing statement or provide a detailed final account printout. Keep this document as part of your estate records and for any required court filings.
6. Distribute remaining funds. After debts and taxes are paid, distribute the balance to beneficiaries according to the will or Georgia intestacy rules if there is no will (see O.C.G.A. Title 53). If supervised administration is in place, distribute only after court approval of the final account. If unsupervised, distribute according to your records and the law but be prepared to justify the distributions if questioned later.
7. File final documents with the court (if required). For supervised estates, file a final account and petition for discharge. After the court signs an order of distribution and discharges the personal representative, you are released from further personal liability for estate administration (subject to later claims). Check local probate court rules for exact filings required.

Difference between a bank closing statement and a court final account

They are not the same:

• Bank closing statement: A document from the bank showing the account balance at closing and how funds were disbursed. Useful proof of what the bank paid out and often required by the personal representative for records.
• Court final account (accounting): A statement prepared by the personal representative that details all estate receipts, disbursements, debts paid, administrative expenses, and distributions. In supervised administrations the court will review and approve this accounting before distribution.

What if the bank refuses to close the account?

Common reasons banks refuse include missing letters or uncertainty about ownership (e.g., joint accounts, POD beneficiaries, pay-on-death designations). Actions to take:

• Ask what specific documentation the bank needs in writing.
• If the account is jointly titled or has a payable-on-death designation, ask the bank to explain how it interprets the account ownership.
• If the bank wrongfully refuses, request a written denial and contact the probate court for guidance; the court can issue an order directing the bank to release funds to the personal representative.

Special issues to watch for in Georgia

• Supervised vs unsupervised administration: Whether you must obtain court approval for the final account depends on how the estate is being administered. If the will or interested parties request supervised administration, the court will supervise filings and distributions. See O.C.G.A. Title 53 for statutory procedures: https://www.legis.ga.gov/.
• Small estates alternatives: If the estate qualifies as a small estate under Georgia law, simplified procedures may exist to transfer bank accounts without formal probate. Check local probate rules and O.C.G.A. for small estate thresholds and procedures.
• Income and estate taxes: Don’t forget potential estate or income tax returns; retain sufficient funds to pay any taxes before closing accounts.

Where to find the governing statutes and forms

Georgia’s probate and estate administration laws appear in the Official Code of Georgia Annotated (Title 53). The Georgia General Assembly maintains legislative and statute resources on its website: https://www.legis.ga.gov/. For county-specific probate forms and procedures, visit the local probate court’s website or call the clerk’s office.

Helpful Hints

• Before visiting the bank, call and get a written list of required documents so you do not make multiple trips.
• Bring certified copies of the letters and the death certificate; banks often will not accept plain photocopies.
• Keep meticulous records—bank statements, cancelled checks, receipts, invoices, and distribution records. These are essential if you must file a final accounting or respond to beneficiary queries.
• If the estate is unsupervised, consider preparing a voluntary final accounting and sharing it with beneficiaries to reduce disputes.
• If you anticipate disputes or complex assets (real estate, closely held business, tax issues), consult an attorney experienced in Georgia probate law before distributing funds.
• If a bank claims funds belong to a surviving joint owner or POD beneficiary, ask the bank to provide its basis for that position in writing.
• For small estates, check Georgia’s simplified transfer procedures; you may be able to avoid full probate for small bank account balances.

Disclaimer: This article explains general Georgia probate practice and is for educational purposes only. It is not legal advice and does not create an attorney-client relationship. For legal advice about a specific estate or dispute, contact a licensed Georgia probate attorney or the local probate court.