Hello, Ms. Myrick. If a member passes away, a surviving spouse living in the same residence as the deceased member may opt to have the account transferred into their name. Otherwise, his or her capital credit account needs to be finalized. The administrator of their estate may apply for a special early retirement of the member’s capital credits account by opting to receive a lump-sum payment of their present-day value. One of our member service specialists will be happy to assist you in the capital credits process. There is a form to be signed and notarized, and the proper documentation from the Clerk of Superior Court, Estates Division will also need to be provided to finalize the claim on the account of the deceased member.
Regarding membership, when one passes the heirs will receive monies since the person was an REMC member owner.
Do what?
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