Popular
Search

Learn what to do after the loss of a loved one.

We are here to lend our support at this difficult time.

What should I do? Who should I call? Will I need money? These are just some of the questions that arise when a loved one is no longer with us.

What is the first step?

It is important that you notify the Bank as soon as possible after a family member or account holder has passed away.

Occasionally, the Bank becomes aware of the death of a customer either through a notice issued by the Social Security Administration, a statement made by the customer’s employer, or through the media.

Once the notification is made, the funds in the deceased’s accounts will be frozen to prevent unauthorized withdrawals or transactions. The deceased’s debit cards, as well as those of any surviving cardholders, will stop working. Likewise, any government benefits that the deceased received in their accounts, such as Social Security or retirement pension funds, will stop and/or be returned to the appropriate agency.

You can contact the Bank and request a certification of account balances or other general information about the deceased’s financial relationship with Popular. This will help you know the inventory of assets and debts they had with the Bank, which you may need in the event of an inheritance liquidation.

Find more answers:

    • Death Certificate: It provides necessary information to verify the identity and legal residence of the deceased, as well as to confirm the official date of death. For more information, visit https://www.gobiernodigital.pr.gov/transaction-type/4808 (website only available in Spanish).
    • Death Certificate issued abroad: Death certificates issued in countries whose languages are not English or Spanish must be accompanied by (a) a translation into Spanish or English, and (b) an apostille certifying the authenticity of the death certificate.
    • Will: If a will exists, you must request a Certificate of Validity at the Registry of Powers and Wills to prove that the will has not been revoked and is the last will that appears as recorded. For more information, go to https://poderjudicial.pr/servicios-a-la-comunidad/certificaciones-del-registro-de-testamentos/ (website only available in Spanish).
    • Holographic Will (handwritten will): A certification and protocolization of said will shall be necessary to confirm its validity.
    • Declaration of Heirs: In the absence of a will, it will be necessary to process a declaration of heirs in Court or before a notary public. At the end of the process, and according to the evidence provided, the Court and/or the notary public will issue the Declaration of Heirs.
    • Letters Testamentary: If an executor who accepts the position was designated in the will, they must engage in the process of obtaining Letters Testamentary, either in the Court of First Instance or before a notary public. Letters Testamentary are the formal instrument of authority and appointment where it is proven that the person designated as executor in the will has accepted the position and has the authority to administer the assets according to the will.
    • Release of Inheritance: If the funds in the accounts of the deceased exceeded $15,000 on the date of death, a Certificate of Cancellation of Tax Lien (Release of Inheritance) issued by the Department of the Treasury of Puerto Rico is required. The Release of Inheritance must include all accounts and/or assets to be included in the liquidation with the balance available at the date of death. For more information, go to https://hacienda.pr.gov/individuos/herencias-y-donaciones/herencias (website only available in Spanish).

  • You can request an advance from the Bank to cover funeral expenses.

    Requirements to request processing:

    • Death Certificate (original or copy)
    • Funeral home bill

    The Bank will issue an official check payable to the funeral home for the amount billed or up to the maximum permitted by law ($15,000) of the funds deposited with Popular.

  • This certification contains information on the deceased’s banking and/or financial relationships with Popular.

    To request it, in addition to the Death Certificate, you must complete the Request for Certification of Banking Relationships of Deceased Customers (BRA-1031A) and provide one of the following documents:

    • Birth Certificate, if you are a descendant (child)
    • The will and its Certificate of Validity from the Registry of Powers and Wills (must be issued after the death), in which you appear as an heir
    • Resolution of Declaration of Heirs
    • Testamentary Letters, if you are the designated executor
    • Information Request Letter, if you are a lawyer representing the estate

  • You can obtain a copy of the monthly statements on any account belonging to the deceased by completing the Request for Certification of Banking Relationships of Deceased Customers (BRA-1031A) and providing one of the documents required in the previous procedure (Financial Relationship Certification). Obtaining a copy of monthly statements has a cost of $10 per statement.

  • The Puerto Rico Internal Revenue Code allows the estate to request an advance of the funds deposited by the deceased in a financial institution, up to a maximum of $15,000.00 or 25% of the total amount, whichever is greater. The estate can request this partial withdrawal even if they have not received the Release of Inheritance. To pay this advance, the Bank will issue one (1) official check in favor of all heirs of the estate and the joint owners registered in the accounts.

    Requirements to request the advance on available funds:

    • Complete the Form BRA-1032A, Requirements for Advancement or Disbursement of Deceased Customer Funds.
    • Copy of the Death Certificate.
    • The will and its Certificate of Validity from the Registry of Powers and Wills. If there is no will, a Declaration of Heirs must be provided.
    • Letters Testamentary, if the executor is claiming the funds.
    • If you have already requested a disbursement for funeral expenses or any withdrawals were made on the accounts after the death, that sum will be subtracted from the advance amount.

    If an heir cannot be present on the day of disbursement, they may grant a Power of Attorney or an Affidavit authorizing another member of the estate or a third party to receive and endorse the liquidation check. Any Power of Attorney or Affidavit granted outside of Puerto Rico must be accompanied by the County Clerk Certificate or the corresponding Apostille. These documents must be provided along with the other documents required above.

  • At the time of liquidating the balance deposited in the deceased’s accounts, the Bank will issue one (1) official check in favor of all heirs of the estate and joint owners recorded in the accounts. The Bank does not make partial liquidations, inheritance divisions, or allocate the shares of the members of the estate and/or surviving joint owners. Once the Bank liquidates the deposited balance, it will proceed to close the accounts.

    Requirements to request the liquidation of funds:

    • Complete the Form BRA-1032A, Requirements for Advancement or Disbursement of Deceased Customer Funds.
    • Copy of the Death Certificate.
    • The will and its Certificate of Validity from the Registry of Powers and Wills. If there is no will, a Declaration of Heirs must be provided.
    • Letters Testamentary, if the executor is claiming the funds.
    • Release of Inheritance if funds exceed $15,000 at the date of death. The accounts and/or assets subject to liquidation must be identified in the Release of Inheritance.

    If an heir cannot be present on the day of disbursement, they may grant a Power of Attorney or an Affidavit authorizing another member of the estate or a third party to receive and endorse the liquidation check. Any Power of Attorney or Affidavit granted outside of Puerto Rico must be accompanied by the County Clerk Certificate or the corresponding Apostille. These documents must be provided along with the other documents required above.

    If a deceased customer received government benefit payments after the date of death, those funds will be returned to the issuing agency prior to the liquidation of funds.

    • Complete the Form BRA-1032A, Requirements for Advancement or Disbursement of Deceased Customer Funds.
    • Copy of Last Will and Letters Testamentary issued by the Surrogate/Probate Court.
    • If there is no Last Will, you need to provide a copy of the Letters of Administration issued by the Surrogate/Probate Court, designating an administrator or representative of the estate.
    • In all cases where the funds in the accounts exceed $15,000 at the date of death, a Release of Inheritance must also be provided. The accounts and/or assets subject to liquidation must be identified in the Release of Inheritance.

  • To request any of the above-mentioned procedures, you must follow the instructions for each process by completing the Banking Relationship Certification Request (BRA-1031A) and/or the Requirements for Advancement or Disbursement of Deceased Customer Funds (BRA-1032A). Submit all the required documents at any Banco Popular de Puerto Rico branch or send them via postal mail to the following address:

    Banco Popular de Puerto Rico
    Estate Processing (696)
    PO Box 362708
    San Juan, PR 00936-2708

If you have any questions, please call TeleBanco Popular® at 787-724-3659
 and one of our representatives will gladly assist you.

Back to top