When a person has a CD and dies befores it matures, what happens to the CD?
If the CD was owned only by the decedent, it becomes part of his or her estate, and can be claimed by the estate's personal representative. If the account was held jointly with another individual, with rights of survivorship, the funds do not pass to the estate, but become the property of the surviving joint owner. If the account was held jointly without rights of survivorship, the interest of the decedent passes to his or her estate, and the interest of the joint owner becomes that owner's individually-owned account. For details on how the account is held, contact the bank.
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If the CD was owned only by the decedent, it becomes part of his or her 