Where does the money go?
When a loved one leaves the savings of a life deposited in the current account, is it lawful to withdraw the sum and appropriate it after his death? Sometimes, family members who take their presence for granted in the group of heirs are considered authorized to make a withdrawal immediately following the departure of the loved one. However, the Law does not seem to support such behavior which, on the contrary, could be punished if it did not follow a certain procedure.
What should the bank do in these cases
Can money be withdrawn from the deceased’s checking account? Upon the death of the account holder, the bank, as we know, blocks any withdrawal or handling in a precautionary manner. However, for such blocking to take place, the bank must be informed of the death by the heirs. Communication is usually made by registered letter with return receipt, PEC or telegram. Considering the times that sometimes elapse for these communications, it is possible that a relative aware of the access codes, or with delegation, withdraws a sum of money from the deceased’s account.
What risks those who make withdrawals on the deceased’s current account
Anyone who makes a withdrawal following the death of the holder of the current account has the obligation to return the portion of money unduly withdrawn to the other heirs. Even if he is a delegated heir, the situation does not change. If this does not happen, this person would respond criminally and could suffer a lawsuit from the heirs. Exceptions may be made for money management operations on behalf and in the interest of all or operations for funeral expenses.
If the withdrawal was made in bad faith, therefore prior to the declaration of succession, the person should necessarily accept the inheritance. This could mean, among other things, the burden of the balance of the deceased’s debts and the repayment of the sum as described.
Can you withdraw money from the deceased’s checking account then? In general, therefore, it is always good to wait until the declaration of succession is made, before proceeding to any withdrawals. In this case, the money can be inherited from the deceased’s current account and, in order to do this, the methods described here must be followed.