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  Home >> Special Situations >> Deceased Individuals  
Redeeming CD of Deceased

My mother recently passed away and I am the beneficiary on her CD. Do I have to wait for the maturity date in order to liquidate it?

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Check with the bank holding the CD to find out if it will permit an early withdrawal without penalty. Some banks will do so, but there is not currently any requirement that they do so.

Published on BankingQuestions.com 10/16/08