The requirements and controls regarding access to bank accounts following a death have become stricter over time. In the past, it was relatively easy to transfer bank accounts to new beneficiaries. That is no longer possible today. Nowadays, in the event of a death, accounts are usually closed and new ones opened. Otherwise, the bank runs the risk of first granting someone access to an account, only to have to pay the truly entitled party a second time afterward. Even “and/or” accounts are increasingly being frozen by the bank upon death, depending on the amount of the bank balance.
To ensure continued access to funds in the event of a spouse’s death, a separate account should be opened for the wife (in her name) and for the husband (in his name). An amount should be deposited into each of these two accounts sufficient to cover living expenses (e.g., rent, health insurance, groceries) for three to six months. Individual circumstances should be taken into account. If an account is in the wife’s name, it does not become part of the estate after the husband’s death. Costs related to the death are generally not an issue, as banks usually cover these even without a certificate of inheritance. Therefore, they do not need to be included when calculating the amount in the personal accounts.
More on this topic:
What happens to a bank account in the event of death?
Notifying the bank and the post office in the event of death