How long does momentum take to pay out?
Money in a bank account remains active until the bank is officially notified of the account holder's death with a certified death certificate. Once notified, the bank typically freezes the account to prevent unauthorized withdrawals, except for authorized joint owners or designated payable-on-death beneficiaries who can claim the funds immediately. If the account is solely in the deceased person's name without a beneficiary, the funds remain frozen until an executor or administrator is legally appointed by a probate court to oversee asset distribution, a process that can take anywhere from several months to a couple of years depending on estate complexity.
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