A bank account typically goes through probate if it was held in the deceased person's name alone without a designated beneficiary. Probate is required to legally transfer ownership when no Payable-on-Death (POD) or Transfer-on-Death (TOD) designation exists. Joint accounts without rights of survivorship also require probate.
Bank accounts in California are handled differently upon death depending on how they're titled: individual accounts typically go through probate, joint accounts pass to surviving owners, and payable-on-death accounts transfer directly to named beneficiaries.
Published 07/17/2025. Probate is the legal process of administering a Decedent's Last Will & Testament (“Will”), whereby assets owned by the Decedent at death are distributed pursuant to the terms of their Will, or if there is no Will, according to a given state's law of intestate succession.
How Long Does Probate Typically Take in California? The time it takes to complete probate depends on the size of the estate, the complexity of assets, and whether any disputes arise. A straightforward estate with minimal debts and no conflicts may take six to twelve months.
This amount may vary from one organisation to another, so you will need to check with each one. Some banks and building societies will release quite large amounts without the need for probate or letters of administration.
Notifying banks about a death is one of the responsibilities of an executor or administrator of an estate. After they're told about a death, banks usually freeze any accounts so no one can access the money in them. Banks do this to make sure they release the money in the account to the right person.
To avoid probate, use tools like living trusts, establish joint ownership with rights of survivorship, and name beneficiaries on assets with Payable-on-Death (POD), Transfer-on-Death (TOD), or beneficiary designations for accounts, investments, and real estate (like TOD deeds). These strategies transfer assets directly to heirs, bypassing the public, time-consuming court process of probate.
1 in 2 people need probate after someone dies. Whether probate is needed depends on what the person owned when they were alive. For example, if they owned a property in their sole name, or had other high value assets, it's likely you'll need probate to deal with their estate.
Probate is also necessary if the personal representative will need to deal with assets held by a financial institution, such as bank or investment accounts and safety deposit boxes.
The court settles this during probate, overseeing the distribution of assets according to the deceased's will or special laws in the absence of a will. The bank account will be frozen until the probate process is complete.
Each financial institution has its own probate threshold. Some set a fixed limit, while others decide on a case-by-case basis. Thresholds can range between £5,000 and £50,000. As these limits can change, it's best to confirm directly with the relevant institution when dealing with an estate.
Within 2 weeks is the average time it will take for a bank to release money. This will only occur after they have a Grant of Probate and the process has been completed.
An estate goes to probate to provide a court-supervised legal process for validating a will (or applying state law if there's no will), appointing an executor, paying the deceased's debts and taxes, and formally transferring remaining assets to heirs, ensuring proper administration and legal authority for asset distribution. It acts as a safeguard to settle the estate, resolve disputes, and ensure legal compliance.
Assets exempt from probate typically include those with named beneficiaries (life insurance, retirement accounts), jointly owned property with rights of survivorship, assets held in a living trust, and sometimes specific items like homestead property or a certain value of vehicles/household goods, depending on state law, allowing direct transfer to heirs without court involvement.
Probate is a legal process that takes place after someone passes away. It involves validating the deceased person's will (if one exists), paying off any debts, and distributing the remaining assets to the beneficiaries.
Accounts or assets with named beneficiaries usually won't go through probate, including most assets held in trusts. This includes assets, such as investment accounts with transfer on death (TOD) designations and retirement accounts (IRAs and workplace accounts).
You need probate to legally validate a will, identify and manage a deceased person's assets, pay their debts and taxes, and distribute the remaining property to heirs, providing court oversight to ensure fairness, prevent fraud, resolve disputes, and offer legal authority (like proving a will's authenticity to sell property). It provides structure when there's no will (intestacy) by having the court appoint someone to manage things according to state law.
CON: Probate increases the likelihood of conflict after your death. Your estate could be consumed by legal fees as relatives battle each other over a wide variety of issues. They can argue about the validity of your will. They can argue about whether they are entitled to a monthly allowance from your estate.
In most cases: Sole bank accounts are frozen and become part of the estate. Joint bank accounts usually pass automatically to the surviving account holder. Only executors or administrators can deal with the money.