H 7283Civil Procedure

Probate Practice and Procedure - Collection and Management of Decedent's Estates

Mandates financial institutions release a decedent's funds to executors on the same day requested, without charging fees.

Held for study

Population
Affected

Email Legislator

Introduced Jan 23, 2026Committee House Judiciary

Plain-English Summary

This legislation amends existing probate laws to grant estate administrators and executors explicit authority to request a deceased person's funds from financial institutions. Under this bill, once an administrator or executor presents proof of their appointment and personal identification, the financial institution is required to release all funds on deposit to them on the same day the request is made. Additionally, the bill prohibits financial institutions from charging any fees for this service. The Department of Business Regulation is authorized to enforce these provisions and penalize non-compliance.

For younger readers

When a person passes away, someone called an "executor" is chosen to take care of their money and property. This bill creates a new rule for banks. It says that when an executor goes to the bank with the right papers showing they are in charge, the bank must give them the money that belonged to the person who passed away. The bank has to do this on the very same day the executor asks. Also, the bank is not allowed to charge any extra money for doing this service.

Who & Where It Applies

Impacted groups

Estate Executors and AdministratorsFinancial Institutions (Banks, Credit Unions)Heirs and BeneficiariesDepartment of Business RegulationProbate Attorneys

Impacted communities

All

Constitutional & Fiscal Check

None Likely

Estimated cost

None

Estimated revenue

Amount unknown

Bill Analysis

Both viewpoints

For Progressives

Protects consumers and grieving families by prohibiting financial institutions from charging junk fees or administrative costs to access a deceased loved one's funds.
Ensures immediate access to assets for families who may urgently need funds for funeral expenses or outstanding debts, reducing financial stress during a difficult time.
Empowers the Department of Business Regulation to hold banks accountable, preventing corporate stalling tactics that disproportionately affect working-class families who cannot afford prolonged legal battles.
The "same day" mandate might inadvertently pressure bank employees to bypass necessary fraud checks, potentially risking the security of the decedent's estate against identity theft or bad actors.
Does not specify the severity of the penalties, leaving open the possibility that large financial institutions might treat violations as a "cost of doing business" rather than complying.
May not adequately address complex situations involving small credit unions or community banks that lack the staffing to process complex estate verifications within a single business day.

For Conservatives

Strengthens private property rights by ensuring that assets are transferred to the rightful legal representatives without unnecessary bureaucratic delays or corporate obstruction.
Reduces the power of financial institutions to hold onto private capital, ensuring that money is returned to the private economy and heirs more efficiently.
Simplifies the probate process for families, potentially reducing the need for expensive legal intervention to force banks to release funds.
Imposes heavy-handed government regulations on private businesses by dictating internal operational timelines ("same day") and interfering with business practices.
Violates free market principles by instituting price controls that prohibit financial institutions from charging fees for the labor and administrative work required to process estate transfers.
Expands the administrative state by granting the Department of Business Regulation more power to punish private companies.

Votes

Loading votes...

Full Bill Text

Changes to existing Rhode Island law · 8 additions

SECTION 1. Section 33-9-1 of the General Laws in Chapter 33-9 entitled "Collection and Management of Decedents’ Estates" is hereby amended to read as follows: 33-9-1. Return of inventory of estate.

(a) Every administrator and every executor, shall, within ninety (90) days after his or her appointment or such longer period as may be allowed by the probate court, return to the probate court, under oath, a true inventory of all the personal property, both tangible and intangible, and of all claims, rights, causes of actions and other assets, other than real property, of the deceased, with an appraisement thereof as of the date of the decedent’s death.

(b) Any administrator or executor, upon presentment of proof of appointment and personal identification, shall have the authority to request, from any financial institution, all funds of the decedent on deposit to be provided by the financial institution to the administrator or executor the same day of the request, without incurring any additional fees.

(c) The department of business regulation shall have the authority to impose penalties for violation of this section pursuant to § 19-14-26.

SECTION 2. This act shall take effect upon passage.