GoBanking Rates: “How To Make Sure Your Bank Accounts Don’t Get Frozen After You Die”
GoBanking Rates, July 2, 2025 — “As you plan for the future, there are many considerations for what happens after you die. After all, you’ve likely worked hard to accumulate some money and valuables, so you want to make sure there’s a plan in place for what happens to them after you leave this world,” writes Chris Adam in today’s article for GoBankingRates.com.
One thing to consider is your bank accounts. You may have heard about such accounts being frozen upon the holder’s death. In general, as reported by U.S. News & World Report, “A deceased person’s bank account is inaccessible unless you’re a joint owner, a beneficiary of the account or the estate executor.”
According to Marguerita Cheng, a certified financial planner (CFP) and CEO of Blue Ocean Global Wealth, one key step to take to make sure your bank accounts don’t get frozen after you die is to designate payable-on-death beneficiaries for the accounts.
“You can complete a simple form with your bank, without the need for a lawyer,” she says. “By taking this action, the funds will transfer directly without going through probate. Your loved ones can then access the cash quickly.”