In the Headlines
August 5, 2024
What Is the Process for Inheriting Bank Accounts from a Deceased Person in Colombia?
Valora Analitik
Tax attorney Juan Pablo Díaz was quoted in an article published by Valora Analitik about the process of inheriting bank accounts from a deceased person in Colombia. Mr. Díaz explained that succession processes must involve all the assets owned by the deceased, including checking accounts, savings accounts and certificates of deposit (CDs). Additionally, he detailed the documents that heirs must present to the bank to claim the account balances and highlighted the different options available for claiming the assets in the absence of a will.
"If no succession has taken place at the time, banks usually require submitting additional notarized or authenticated extra judicial declarations regarding the conditions of legitimate heirs and the absence of an appointed executor or administrator of the succession, as well as the absence of a judicial succession process. They may require additional documentation for the pertinent verifications," he said.
READ: What Is the Process for Inheriting Bank Accounts from a Deceased Person in Colombia?
"If no succession has taken place at the time, banks usually require submitting additional notarized or authenticated extra judicial declarations regarding the conditions of legitimate heirs and the absence of an appointed executor or administrator of the succession, as well as the absence of a judicial succession process. They may require additional documentation for the pertinent verifications," he said.
READ: What Is the Process for Inheriting Bank Accounts from a Deceased Person in Colombia?