Golden 1 is here to help during these difficult times

Once Golden 1 has been notified of the passing of a member, a case number is created. The case number is provided to the beneficiary of record. If there is no known beneficiary, the case number is available to those entitled to receive funds, by letter that will also include contact information for an experienced specialist to assist you through the process. Please include the case number in all correspondence with Golden 1 regarding the deceased member.

The account structure will determine how long it takes to settle the decedent's accounts.

Beneficiaries are only recognized if the decedent designated them as a beneficiary on the Golden 1 account application. If you’re a beneficiary of record, you’re entitled to receive your portion of the available funds without waiting for the release of the estate by a probate judge or administrator. 

You can secure your portion of the funds by providing Golden 1 with a certified copy of the account holder’s death certificate and a valid government-issued photo identification such a driver’s license, a state issued identification card, or passport to establish your identity. While not required, providing a Letter of Instruction (Letter of Intent) can help with the process.

Yes, and it depends on the amount of money the minor will receive:

• For a Minor Beneficiary receiving $5,000 or less – An Affidavit for Minor's Estate form must be completed by a Parent/Guardian to collect on behalf of a Minor. Note that the total estate of the minor, including the amount the Minor will receive as beneficiary, must not exceed $5,000.
• For a Minor Beneficiary receiving more than $5,000 – A court order will be needed for a Parent/Guardian to collect on behalf of a Minor.

Minor Account where the child has passed away – In these cases the adult joint account holder will need to close the account because of tax reporting requirements.

Minor Account where the adult joint account holder has passed away – These accounts can be modified to include a new adult joint account holder (parent/ guardian) by completing a new Application for Membership, or the account can be closed.

Typically, these documents are provided by the probate court. Please consult with an attorney for further information.

Depending on the account type, you may simply need to complete a new Membership Application Card. A joint account owned by the decedent can often be changed to a single account in the name of the surviving owner or have a new joint owner added. Your specialist will tell you if anything else is needed.

Government overpayments are federal benefit payments made to an account after the date of death, such as Social Security, Veterans Benefits or Supplemental Security Income (SSI). As the decedent is no longer eligible to receive the payment, Golden 1 is legally obligated to return payments to the appropriate government agency. If you believe you are still eligible for the payment, you must contact the government agency responsible for the benefit to have them issue the payments in your name.

No. Any Power of Attorney assigned by the decedent became void upon their death.

Unfortunately, Golden 1 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 are only able to take instructions about the decedent’s accounts from the Court- appointed legal representative.

We can only settle accounts through the issuance of official checks in the name of the estate or named beneficiary(ies). However, if a beneficiary has an account with Golden 1, we can transfer funds into their account.

Legally, we can only provide account information in limited circumstances, such as disclosure to executors and administrators of the Estate, or when a Subpoena of Records has been issued.

All IRA accounts have their own designated beneficiaries. An IRA and Certificate Account Servicing employee will contact the beneficiary listed on the Designation of Beneficiary form to discuss distribution of IRA assets. For more information call us at 916-733-5659 or 1-877-465-3361 ext. 5659.

If the box is in the name of the decedent and a joint owner, the surviving box holder has the right at all times to access the box. If the box was in the name of the decedent individual only, immediate access is available only to a public administrator or a person who has a key to the box, subject to the requirements of Probate Code Section 331.

Access is also available to a court-appointed executor or administrator, or a person eligible to complete a Small Estate Affidavit.

Because account specifics vary, questions you may have about accounts set up in trust, or other special account types can be answered by contacting one of our specialists.

Discuss the settlement requirements of outstanding loans with a specialist who will be able to determine next steps.

Yes. Golden 1 does offer estate accounts as well as other specialty accounts for your financial needs. For more information call us at 1-877-GOLDEN 1 (1-877-465-3361) between 8:30 a.m. and 5:30 p.m. Monday through Friday or visit your local branch to review your options.

If you still have questions, or would like to start the settlement process, please call our Deposit Account Servicing Department at 1-877-465-3361, ext. 5590, between 8:30 a.m. and 5:30 p.m. Monday through Friday. One of our specialists will be able to answer your questions. Please refer to the case number when speaking with our specialists.