CHECKLIST FOR MANAGING A DECEASED RELATIVE’S BANK ACCOUNT IN NIGERIA

This checklist guides families and legal representatives on handling a deceased relative’s bank account in Nigeria before obtaining probate or a letter of administration. It covers notifying the bank, securing the account, gathering documents, applying for legal authority, managing debts, keeping records, and closing or converting the account while ensuring lawful, transparent, and fraud-free estate management.

Why This Checklist Matters

By following these steps, you:

1. Protect the estate from fraud or unauthorised withdrawals.
2. Support a smooth legal process for accessing funds.
3. Provide comfort and financial clarity during a difficult time.

Liaise with the bank

1. Ask the bank for its requirements to access or distribute funds.
2. Confirm if banks will grant temporary access for urgent needs like probate registry costs. Most probate registries in Nigeria may order your bank to pay the estate fees from the estate accounts.

Apply for Legal Authorisation

1. If there’s a will, appoint the named executor and file it for probate at the probate registry.
2. If there’s no Will, apply to the High Court for a Letter of Administration.
3. Ensure the executor or administrator obtains the official document before disbursing any funds.

Maintain Clear Records

1. Document any withdrawals from the estate account, including amounts, dates, and recipients.
2. Keep signed receipts for distributions made to beneficiaries or for payment of funeral expenses, debts, or taxes.

Manage Debts and Obligations

1. Once properly authorised, notify creditors and settle any outstanding bills using estate funds.
2. Avoid personal liability by ensuring distributions align with legal entitlement.

Distribute Funds After Authorisation

1. Once the probate registry grants the letter of probate or the Letter of Administration:
   1. Transfer or distribute the funds as directed in the Will or by law.
   2. Update beneficiaries once distributions are complete.

Close the Account or Convert to Estate Account

1. Close the deceased’s account after you settle all obligations.
2. Open an estate account (if required) to manage ongoing affairs until full distribution.

Seek Legal Advice

1. Consult an experienced probate and estate administration law firm.
2. Ensure compliance with federal, state, and banking regulations throughout the process.

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