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Can Authorized Signers Still Sign when Owner Dies?

Answered by: 

Question: 
When the owner of a DBA dies, are the authorized signers still authorized to sign? The account uses the deceased owner's social security number.
Answer: 

Assuming that you're using the abbreviation DBA to mean "sole proprietorship," which seems to fit the facts in your question, the answer is "No". The authority of authorized signers ends with the death of the account's owner. The account is owned by the decedent's estate, and the only individual authorized to access the account will be the personal representative (executor or administrator) of the estate, once he or she is approved or appointed by the probate court.

First published on BankersOnline.com 12/06/10

First published on 12/06/2010

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