Do banks freeze an account if it is a joint account and one of the account holders passes away?
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Some states' tax laws require a temporary hold on joint accounts to ensure that any tax matters resulting from the death of one of the depositors are cleared up. To find out if your bank has to temporarily freeze such an account when a joint owner dies, give them a call. These tax requirements may exist in only a very few states.
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Some states' tax laws require a temporary hold on joint accounts to ensure that any tax matters resulting from the death of one of the depositors are cleared up. To find out if your bank has to temporarily freeze such an account when a joint owner dies, give them a call. These tax requirements may exist in only a very few states.
