How to regain control of a deceased parent’s bank and credit card accounts in Colorado

Disclaimer: This article explains general information about Colorado law and common practical steps. It is not legal advice. For help tailored to your situation, consult a licensed Colorado attorney.

Short answer

If someone else is using a deceased parent’s bank or credit card accounts, act quickly: collect certified copies of the death certificate, notify the banks and credit card companies, report suspected theft to law enforcement, contact the major credit reporting agencies, and—if necessary—open probate to obtain legal authority to control and distribute the accounts. Many financial institutions will only release funds to a properly appointed personal representative or to named beneficiaries, or after verification of account ownership.

Detailed answer — step‑by‑step under Colorado law

1. Confirm death and collect key documents

Obtain several certified copies of the death certificate from the county where your parent died. You will need certified copies to show banks and other institutions. Also gather any will or trust documents, account statements, and any documents showing who has authority over the accounts (joint account agreements, beneficiary designations, credit card agreements, or a power of attorney).

2. Understand immediate legal effects: power of attorney ends at death

Remember that a power of attorney is void when the principal dies. If a third party is acting after death based only on a power of attorney, they no longer have authority — and continued use of accounts can be unlawful. See Colorado probate law for how authority passes after death (estate administration and appointment of a personal representative). For an overview of Colorado estates and probate, see Colorado Revised Statutes, Title 15 (Estates, Trusts, and Guardianships): leg.colorado.gov – Title 15.

3. Contact the bank and credit card companies immediately

Call each bank and credit card issuer, report the death, and tell them you suspect unauthorized use. Ask each institution what documents they require to freeze or close the account and to release funds. Typical required documents include: a certified death certificate, account statements, a will (if one exists), and letters testamentary or letters of administration (if you have them). If the account is jointly owned with rights of survivorship, the joint owner generally keeps the account — but the bank will verify ownership documents.

4. If funds are being misused, file a police report

If someone continues to take money, withdraw funds, or use credit after the death, that may be criminal theft or fraud. File a police report in the county where the misuse occurred. The police report helps when you ask banks to freeze or recover funds and when you later file for probate or a civil recovery. You can point law enforcement to Colorado criminal statutes on theft and fraud; your local law enforcement or district attorney can advise whether criminal charges are appropriate.

5. Protect the decedent’s credit and identity

Place fraud alerts and consider credit freezes with the nationwide consumer reporting agencies (Equifax, Experian, TransUnion). Dispute any unauthorized charges with the card issuers and request copies of statements and transaction histories. The federal FTC has helpful guidance on steps after a loved one dies and on identity theft: FTC: Protecting information of a deceased loved one.

6. Determine whether you can collect assets without full probate

Colorado offers several ways to handle smaller estates or certain accounts without full formal probate (for example, accounts with pay-on-death (POD) or transfer-on-death (TOD) designations, or small‑estate procedures). If an account has a valid beneficiary designation or is titled as payable-on-death, the bank should transfer it to the named beneficiary after proper proof of death.

If there is no beneficiary and a named executor/personal representative is required, you will likely need to open probate and obtain letters testamentary or letters of administration. The Colorado courts provide information and forms for probate administration; see the Colorado Judicial Branch probate resources: courts.state.co.us – Probate Forms & Information.

7. Open probate and obtain formal authority if necessary

If the bank will not release funds without legal authority, file a petition for appointment of a personal representative (executor/administrator) in the appropriate county probate court. Once the court issues letters testamentary or letters of administration, most financial institutions will deal directly with the personal representative. Colorado’s probate rules and Title 15 statutes govern appointment and duties of personal representatives. For general statutory guidance, review Colorado Revised Statutes, Title 15: leg.colorado.gov – Title 15.

8. If someone refuses to cooperate, consider civil actions

If a person refuses to turn over funds that belong to the estate or continues to use accounts after death, the personal representative (or an heir) can file a civil case in probate or district court to recover estate assets. Courts can order turnover, accounting, and may impose damages. Keep careful records of transactions and communications to support any claim.

9. Work with a lawyer experienced in Colorado probate or elder law when needed

Because the facts—joint ownership, beneficiary designations, location of assets, and amounts—change the correct course, consult a Colorado attorney when: (a) someone is stealing or hiding funds after death, (b) banks refuse to cooperate, or (c) the estate is complicated. An attorney can help you file probate documents, seek court orders to freeze accounts, and pursue recovery.

How banks and card issuers typically respond

• If an account has a surviving joint owner with right of survivorship, the bank usually recognizes the joint owner’s control after death.
• If an account has a named POD/TOD beneficiary, the bank will pay that beneficiary after they submit proof of death and identity.
• If there is no joint owner or beneficiary named, the bank will typically require court authority (letters testamentary/administration) to release funds.
• Credit card companies will often freeze or close accounts upon notice of death and may pursue collection from the estate for outstanding balances.

Helpful links and Colorado resources

• Colorado Revised Statutes, Title 15 — Estates, Trusts, and Guardianships: https://leg.colorado.gov/content/title-15-estates-trusts-and-guardianships
• Colorado Judicial Branch — probate forms and information: https://www.courts.state.co.us/Forms/Forms_List.cfm?Form_Type_ID=28
• Federal Trade Commission — protecting a deceased person’s information: https://www.consumer.ftc.gov/articles/0150-protecting-personal-information-your-deceased-loved-one

Helpful Hints

• Act quickly: reporting the death and suspected misuse early increases your chances of recovering funds.
• Get several certified copies of the death certificate—banks often require originals or certified copies.
• Call the bank’s estate or fraud department and follow up in writing; keep records of names, dates, and what was said.
• If someone used a power of attorney after death, document it and report it to the bank and the police—POAs end at death.
• Keep copies of all account statements and ask the bank for a transactional history if you suspect theft.
• Check whether accounts were titled as joint tenancy, POD/TOD, or held in trust—these titles determine who can legally take control without probate.
• Consider a temporary freeze on credit reports for the decedent to prevent new accounts from being opened in their name.
• If the estate seems small and banks allow, explore Colorado’s non-probate or small-estate procedures before pursuing full probate—local court clerks or an attorney can advise.
• When in doubt, contact a Colorado probate or estate attorney; an early consult can prevent costly mistakes and speed recovery.

If you want, provide brief facts about the accounts (joint title vs. individual, presence of a will or beneficiary designation, and whether you already filed a police report) and I can outline the likely next documents to gather and the procedural steps to start in your county.