Stamford Postal EFCU's online banking services will be down on June 30th 2023 at 12:00pm est. Members will not be able to access Stamford Postal's online banking portal or view any online banking services during this time. Members must call the branch on or after Monday July 3rd, 2023 to set up their new online banking portal with America's First Network Credit Union.

Stamford Postal EFCU will be closing early on Friday June 30th at 12pm est. to begin the full conversion process. Please visit or call your branch for more details.

America's First Network Credit Union

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Where your money goes when you die.

In a perfect world, everything you own would go to your desired beneficiaries – exactly as you intended, according to your will. Unfortunately, we don’t live in a perfect world. If you die unexpectedly, your assets may not go to where you want them…unless you make arrangements in advance.


The first concept to understand is probate. This is a formal legal process in which the courts give everyone you ever owed money to a chance to file a claim against your estate. This process can take months or years and is very expensive. Some assets skip probate and go directly to family members.

Intestate Laws

Once your assets clear probate, then no problem – the courts will distribute everything that’s left according to your will. Absent a will, your state intestate law takes over. Each state has different intestate laws, and they may not reflect your wishes. Plan in advance.

Your Home

Your home usually bypass probate. If your spouse lives with you and owns the property with you, it will probably go to your spouse. However, if you are not married, live with a partner, and don’t leave a will, your house may go to your children. That may not be what you want.

Tips: Look to see how your home is titled. Does your spouse or partner own it as tenants in the entirety? The answer can have huge ramifications. Consult an attorney to learn what that means in your state.

Bank Accounts, Stocks, Bonds and CD’s

These go through probate though most states provide some provision for widows to access at least some of the cash to meet living expenses, pending the completion of probate. Consider putting your heirs’ names on the account.

Life Insurance

Life insurance bypasses probate. Death benefits are ordinarily tax free and usually go to your beneficiary in matter of days.

Retirement Accounts

Retirement accounts such as IRAs, 401(k)s and 403(b)s also bypass probate if you name a beneficiary. Otherwise, these accounts become part of your estate and subject to probate and the claims of the creditors.


Generally, annuity balances or death benefits go to the family and bypass probate. So long as there a named beneficiary. If there is no named beneficiary, your family will have to wait for probate.


Generally, Intestate laws only recognize formal family relationships. Without careful planning, you may accidentally disinherit a stepchild or life partner.

The Bottom Line

The most important thing to remember; Work with an experienced attorney licensed in your state. Update your will and beneficiaries on all of your retirement accounts, life insurance policies and annuities.