Does a CD in name of the deceased need to run to maturity to avoid penalties, or can the executor close it out and distribute the funds to heirs?
Some banks that do not ordinarily allow an early withdrawal without imposition of a penalty will do so if an owner of the CD has died. The executor should contact the bank to find out about its particular policies.
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Some banks that do not ordinarily allow an early withdrawal without imposition of a penalty will do so if an owner of the CD has died. The executor should contact the bank to find out about its particular policies.
