What do I need to settle an account?
For most estates, you’ll need
- A copy of the death certificate
- For executors, a copy of the Court-official Letter of Administration or Letters of Testamentary, dated within the last 2 years
- You may be able to settle with a notarized Affidavit for Collection of Personal Property or Small Estate Affidavit. Please refer to your state-specific guidelines.
- A copy of the Letter of Instruction for each executor and/or beneficiary
- Co-executors may send in one Letter of Instruction, if they wish, signed by both parties
- A copy of government-issued identification for all executors and/or beneficiaries
You may also need
- The executor’s authorization to release information to your law firm (if you choose to communicate through an attorney)
- Account-specific forms for Trusts
- Additional documentation to settle accounts with Minor titling or beneficiaries
- If the customer lived in New Jersey and passed away prior to 2018, we will also need
- An original, notarized L-8 form which MUST be mailed to us
- An Inheritance Tax Waiver if the L-8 form does not apply
Beneficiaries are only recognized if the decedent officially recorded the designated beneficiary with Capital One prior to their death. Beneficiaries are entitled to receive the balance of the available funds without waiting for the release of the estate by a probate judge or administrator. Beneficiaries can secure the funds by contacting Capital One with a copy of the account holder’s death certificate, a Letter of Instruction and valid photo identification.
How do I submit my documents?
The first step is to call 1-877-383-4802 between the hours of 9:00am-11:00pm EST to obtain a case number. Within a few days, you will receive a cover sheet and packet of information via email. Once you have your cover sheet and case number, documents can be submitted through email or fax.
Please make sure your cover sheet is attached to each email you send or in front of any documents you fax. If emailing, make sure the subject line of your email contains your case number. This will ensure prompt addition of documents to your case for processing. Also, please ensure documents are submitted as attachments to your email. See below for more information regarding Credit Card or Auto Loans.
Where do I get my case number and cover sheet?
If you have not yet notified Capital One of the customer’s passing, please call 1-877-383-4802 between the hours of 9 a.m. and 11 p.m EST. Your case number and cover sheet will then be provided to you via email.
Where do I get the Letters of Testamentary or Letters of Administration?
Typically, these documents are provided by the probate court, but please check with an attorney.
What if I don’t have an email address?
Email and fax are the quickest ways to get in contact with us and ensure the addition of documents to your case. Please note that physical mail will add additional processing time.
If you must mail us your documents, you can remit documents to
PO Box 360
Wilmington, DE 19899
Please only submit copies; original documents will not be returned.
How long will it take to process my case?
It depends on the complexity of the documents and accounts owned by the deceased. The best way to ensure that your case closes as quickly as possible is to make sure all necessary documents are submitted at the beginning of the case.
How do I remove a deceased joint owner?
Joint accounts with deceased joint owners are transitioned to single/sole account ownership of the living joint owner. Depending on the account type, you may need to update a signature card in a branch.
What are government overpayments?
Government overpayments are federal benefit payments made into the account after the date of death, such as Social Security, Veterans Benefits or Supplemental Security Income (SSI). As the deceased is no longer eligible for or able to receive the payment, Capital One is legally obligated to return payments made after the date of death to the government entity that remitted the payment. If you believe you are still eligible for the payment, you must contact the government agency responsible for the benefit to have them start issuing the payment in your name.
What qualifies as a “small estate”?
Small estate affidavits are an alternative to a full formal probate of an estate. They may be available to family members when the decedent’s assets are under a certain statutory dollar amount. A small estate can range from $1,000 to $150,000. It’s best to check with the probate court for your state or consult with an attorney.
Can I submit the will?
Unfortunately, Capital One can’t determine the validity of a will. A will must be probated by the Court and an estate representative appointed by the Court. Where there are no beneficiaries on the account, we will only take instructions about a deceased person’s accounts from the Court-appointed legal representative.
Can you transfer the funds to another Capital One account or an account at another bank?
No, we can only settle accounts through the issuance of checks in the name of the Estate or beneficiaries on the account.
Can you send me a list of the deceased accounts and balances?
Yes, validated executors or affiants can request a Date of Death Balance Letter, which states the balances of the accounts held by the deceased at the time of death. POD and ITF beneficiaries aren’t entitled to request a Date of Death Balance Letter. Please either indicate this in the comments section of the Letter of Instruction or send us an email with your case number in the subject line.
Can I get a copy of the bank statements or tax forms?
Any necessary tax forms will be sent to the decedent representative’s address at the end of the fiscal year. If you need statements, please indicate this in the comment field of the Letter of Instruction or send us an email with your case number in the subject line.
How do I settle a Capital One credit card or car loan?
We’ll help you start the process with any other products the decedent may have with Capital One—such as notifying Capital One of the death. They will contact you accordingly if there is anything else they need from you. Additionally, you can contact those teams if you have any questions about those accounts and settlements at:
Credit Cards: 1-877-357-5659
Auto Loans: 1-800-946-0332
Who can I contact if I still have questions?
If you already have a case and case number, you can email your questions to firstname.lastname@example.org. Please be sure to put your case number in the subject line.
If you still have questions, or would like to start the settlement process, you can give us a call at 1-877-383-4802 between the hours of 9 a.m. and 11 p.m. ET.