Is it all right to let a CD of a deceased person renew?
If the contract for the CD calls for it to be renewed, it can be allowed to renew. However, at some point the estate of the deceased owner will need to liquidate it and disburse funds to the beneficiaries of the estate. A renewal for an extended period may not be a good idea, since the bank holding the CD account could legally impose a penalty, if the CD has to be closed out early to make those disbursements. Banks are permitted, but not required, to waive early withdrawal penalties when a CD owner has died.
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If the contract for the CD calls for it to be renewed, it can be allowed to renew. However, at some point the 