Compliance Question of the Week

Is a will naming someone as the executor of the estate enough to allow access to the deceased member’s account?

No. In order to access the deceased member’s account, the person claiming to be the executor of the estate needs to provide your credit union with a copy of the member’s death certificate and Letters Testamentary.

Letters Testamentary are a court-issued document that proves that the person named is the executor of the estate in question. It is the probate court’s job to look at the will, determine if it is valid and current, and issue the letters to the appropriate person. It is only after your credit union has received the Letters Testamentary that it should provide access to the deceased member’s accounts. Letters Testamentary are sometimes called Letters of Administration.

Related Links
RCW 11.20.020
RCW 11.11.100
ORS 113.035
ORS 113.125

Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Business Solutions, Compliance News, Events, GoWest Solutions.