Overview
Valley National Bank is a major regional bank headquartered in Wayne, New Jersey, with approximately $63 billion in assets and over 200 locations across New Jersey, New York, Florida, Alabama, California, Illinois, and Pennsylvania. When an account holder passes away, the estate representative must notify Valley National Bank to secure the assets and begin the transfer process.
This guide covers Valley National Bank's estate services process, including how to report a death, the documents you will need, and what to expect regarding timelines. Because Valley operates in multiple states, specific probate requirements may vary depending on where the account holder lived.
This guide provides informational guidance only. It is not legal advice, and SwiftProbate is not a law firm. Laws and institutional procedures change — verify current requirements directly with Valley National Bank and consider consulting a qualified attorney.
Notification Process
How to Notify Valley National Bank of a Death
Step 1: Gather Initial Information
Before contacting Valley National Bank, have the following ready:
- Decedent's full legal name and date of birth
- Date of death
- Social Security number
- Account numbers (checking, savings, CDs, loans)
- Your name and relationship to the decedent
- A certified copy of the death certificate
Step 2: Call Customer Care or Visit a Branch
Valley National Bank does not publish a direct phone line for a dedicated estate unit. You should contact their general customer care line or visit a local branch to initiate the process.
- Phone: (800) 522-4100
- Hours: Mon–Fri, 7 AM – 10 PM ET; Sat–Sun, 8 AM – 8 PM ET
What to say: "I need to report the death of an account holder and speak with the estate services team or a branch manager regarding the deceased account process."
When you reach an agent, they will:
- Verify the decedent's identity
- Place a deceased flag on the account(s), which freezes automatic payments and online access
- Advise you on whether you can handle the process by mail or if an in-person appointment is required
- Provide the specific mailing address for your region if documents are to be mailed
Step 3: Submit Required Documents
If instructed to mail documents, send them to the address provided by the representative. Typically, this is their headquarters or a specific operations center.
General Mailing Address (Verify with Agent):
Valley National Bank
Attn: Customer Care / Estate Services
1445 Valley Road
Wayne, NJ 07470
Note: It is often faster to visit a local branch with your documents if you are located near one.
Step 4: Wait for Processing
After Valley National Bank receives your documents, expect:
- Document review: 1–2 weeks
- Account closure/transfer: 2–4 weeks depending on account complexity
Step 5: Receive Funds / Transfer Assets
Once all documents are approved:
- Joint accounts are updated to the surviving owner's name.
- Beneficiary accounts are paid out via check or deposit to an existing Valley account.
- Estate accounts are opened for funds requiring probate (requires an EIN).
Required Documents
Documents Valley National Bank Requires
The exact documents depend on account type, account value, and whether the estate is going through probate.
Always Required
| Document | Details |
|---|---|
| Certified death certificate | Original certified copy (not a photocopy) |
| Government-issued photo ID | Driver's license or passport of the person claiming the account |
| Valley National Bank claim form | Provided by the branch or agent |
If There Is a Will (Testate Estate)
| Document | Details |
|---|---|
| Letters Testamentary | Issued by the probate court — must be certified and dated within 60 days |
| EIN (Employer Identification Number) | For the estate, if opening an estate account |
If There Is No Will (Intestate Estate)
| Document | Details |
|---|---|
| Letters of Administration | Issued by the probate court appointing the Administrator |
| EIN | For the estate |
Small Estate (Below Probate Threshold)
| Document | Details |
|---|---|
| Small estate affidavit | State-specific form (e.g., NJ L-8 or L-9 form) — check our state probate guides |
Beneficiary / POD / TOD Accounts
| Document | Details |
|---|---|
| Certified death certificate | Usually the only document needed |
| Beneficiary's ID | To verify identity |
Trust Accounts
| Document | Details |
|---|---|
| Trust certification or abstract | Identifying the successor trustee |
| Successor trustee identification | Government-issued photo ID |
| Certified death certificate | Of the deceased trustee |
Account Types
How Valley National Bank Handles Different Account Types
Joint Accounts (JTWROS)
The surviving joint owner typically needs only a certified death certificate to have the decedent's name removed. The account usually remains open and accessible to the survivor.
Timeline: 1–5 business days
POD (Payable on Death) / TOD (Transfer on Death) Beneficiary Accounts
Named beneficiaries claim funds by presenting a death certificate and ID. No probate is required. Funds are typically issued via check.
Timeline: 5–10 business days
Trust Accounts
The successor trustee must provide the trust agreement (or certification) and death certificate. The bank will update the trustee information on file.
Timeline: 10–20 business days
Individual Accounts (Probate Required)
Accounts held solely in the decedent's name with no beneficiary designation require Letters Testamentary or Letters of Administration from probate court. The funds will be transferred to an Estate Account.
Timeline: 3–6+ months (depending on probate court speed)
Retirement Accounts (IRA)
Named beneficiaries must complete an inherited IRA claim form and provide a death certificate. Distribution options depend on IRS rules and the SECURE Act.
Timeline: 10–20 business days
Credit Cards and Loans
Outstanding balances on credit cards or personal loans are generally the responsibility of the estate. Valley National Bank will file a claim against the estate if necessary.
Timeline: Settled during estate administration
State Considerations
How Your State Affects the Valley National Bank Process
Valley National Bank operates in New Jersey, New York, Florida, Alabama, California, Illinois, and Pennsylvania. Probate laws vary significantly by state.
- New Jersey: Has a simplified "surrogate" process for surviving spouses.
- Florida: Has specific rules for "Summary Administration" for estates under $75,000.
- California: Has a high small estate threshold ($184,500 as of 2023) but a complex full probate process.
Key State Variations
| State | Small Estate Threshold | Community Property? | Notable Rules |
|---|---|---|---|
| New Jersey | $50,000 (Spouse) / $20,000 (Other) | No | Simplified surrogate process available |
| New York | $50,000 | No | "Voluntary Administration" for small estates |
| Florida | $75,000 | No | Summary Administration available |
| California | $184,500 | Yes | Affidavit procedure for small estates |
| Alabama | $34,611 (indexed) | No | Small estate summary distribution |
| Illinois | $100,000 | No | Small estate affidavit available |
| Pennsylvania | $50,000 | No | Small estate procedures available |
For detailed probate requirements, see our state and county probate guides.
Timelines
How Long Valley National Bank Takes to Release Funds
| Account Type | Estimated Timeline | Key Factor |
|---|---|---|
| Joint account | 1–5 business days | Immediate access for survivor usually maintained |
| POD/TOD beneficiary | 5–10 business days | Depends on document verification |
| Trust account | 10–20 business days | Legal review of trust docs required |
| Small estate affidavit | 2–4 weeks | Legal review of affidavit required |
| Probate (simple estate) | 3–6 months | Depends on court issuing Letters |
| Probate (complex estate) | 6–12+ months | Disputes, taxes, or multiple jurisdictions |
Note: Timelines may be longer if documents are mailed rather than presented in person at a branch.
Tips & Pitfalls
Common Pitfalls and Tips
Do Not Withdraw Funds Before Notifying the Bank
Withdrawing funds from a deceased person's individual account (via ATM or online) after their death is illegal and can lead to personal liability.
Stop Automatic Payments
Once the deceased flag is placed, all automatic debits (utilities, subscriptions) will be rejected. You must contact service providers directly to update billing.
FDIC Coverage Limits
For joint accounts, FDIC coverage may decrease 6 months after the death. Ensure the remaining balance does not exceed $250,000 per owner/beneficiary category.
Keep the Case Number
If you call Customer Care, ask for a case number or reference number. This will help any future agent locate your file quickly.
Visit a Branch if Possible
Because Valley National Bank is a regional bank with a strong branch network, visiting in person is often the fastest way to get documents reviewed and approved.