Great News: Pennsylvania Legislature Increases Accessibility to Deposit Accounts
By Jaimee Wallerius and Lisa Long
The Pennsylvania General Assembly has enacted important changes that will make it easier for families to access a loved one’s bank accounts after death.
Under Act 50 of 2025, adopted on November 24, 2025 and effective January 23, 2026, the amount that a financial institution may release to certain next of kin—without the need to open a formal probate estate—has increased from $10,000 to $20,000.
What This Means for Families
Previously, if a decedent’s bank account exceeded $10,000, families often needed to open a probate estate to access those funds—even if the money was simply needed to pay funeral expenses or other immediate costs.
Under the amended law:
- A beneficiary who does not intend to probate an estate may request release of a decedent’s bank account funds directly from the financial institution.
- The requesting party must provide appropriate documentation, including a paid funeral invoice.
- Financial institutions are now authorized to release up to $20,000, doubling the previous threshold.
Why This Change Matters
This legislative update is a welcome step forward for Pennsylvania families with limited assets:
- Reduces the need for probate in smaller estates;
- Allows faster access to funds for funeral expenses, providing a welcome financial relief during a time of loss;
- Simplifies interactions with financial institutions;
- Eases administrative burdens during an already difficult time.
By increasing the threshold, the legislature recognizes the rising costs of funeral services and the importance of providing families with timely financial access.
Additionally, the statute directs unclaimed property of a decedent to be distributed to an endowed community fund in the decedent’s municipality, school district or county. This provision enables the decedent who passes without family or a will to make a positive impact on their local community. If no local endowed community funds are established, then the property will go to the Commonwealth’s Bureau of Unclaimed Property. https://patreasury.gov/unclaimed-property/
We’re Here to Help
While this change provides greater flexibility, estate administration can still involve complex legal and financial considerations. Every situation is unique. Keep in mind, estate planning involves much more than simply preparing legal documents. Careful planning will ensure that your loved ones can access the property that you worked a lifetime to build.
CGA Law Firm’s Estate Law Group is ready to assist you with all your needs related to:
- Estate planning
- Estate administration
- Probate matters
- Elder law
If you have questions about how this new law may impact you or your family, please contact Paralegal Jaimee Wallerius or Attorney Lisa Long at 717-848-4900.
We are here to guide you through every step with clarity and care.
