Closing Bank Account - Deceased Person?

msmoose

I am looking for some advice on the easiest and simplest way to close a bank account of a deceased person. There is no will made and only two people the money is to be split between. Husband and Daughter, I as the daughter wish to ideally take my half of the money and put it into a new savings account at the same bank, where as my dad will wish to take his half and deposit it into his own bank. What’s going to be the best way of dealing with it? Dad’s not up to dealing with this but with him officially being next of kin is there going to be an issue for me to close the account at the bank alone and deal with the finances. I am an only child.

We dealt with the ISA and waiting for a form to arrive to complete, that will be covering the funeral costs plus some of the bank account will be use for expenses. Total amount to be withdrawn from bank is just over £6000.

CLAPTON

Usually you have to obtain probabte before you can access the deceased estate.

The inheritance is determined by law.... (your father and you can choose to divide the money in two but that's not the law).

If the total estate is small then the bank may release the money without probate... you will need to ask the bank.

Biggles

You have presumably taken the death certificate to the bank in order they that can freeze the account?

I would have thought they would have told you what they required next. For an amount as small as that, some banks will let you close the account and draw the funds on presentation of the death certificate, I think with LTSB it's £5k. But that may only apply if there's a will.

Clapton is also right with regard to intestacy: your father inherits everything, though he's quite entitled to make you a gift of any amount he chooses.

jonesMUFCforever

It's not absolutely clear here but if the account is in joint names of husband and wife the monies will automatically go to the husband as survivor. It is then up to him if he wants to give half to sibling.

eslick

have a look here

http://www.direct.gov.uk/en/Governmentcitizensandrights/Death/Preparation/DG_10029468

http://www.direct.gov.uk/en/Governmentcitizensandrights/Death/Preparation/DG_10029802

have to agree with the others, your father will inherit the money and even though there is no will there is still legal steps to follow

tonyhamm

The Banks all need the following:
To register the death and freeze all the direct debits etc..
- A copy of the death certificate and account details.

To forward the balance by cheque
- Details and ID of the executor this is for a small estate i.e. less than £6000.

withnell

tonyhamm wrote: »

The Banks all need the following:
To register the death and freeze all the direct debits etc..
- A copy of the death certificate and account details.

Unless it's Abbey, who require a certified copy of the will......

tonyhamm

The bank was Abby. A lot of the staff dont know what they are doing in relation to death, I was left waiting hours. There is no requirement for the bank to see any will - the executor is resposible for that bit, not the bank.

username

As said you'll need to take an original/certified copy of the death certificate to the bank to freeze the accounts.

If the estate is small and relatively simple then the bank (as with my case) may allow you to do a statuory declaration (upon production of other documents, as in my case, birth certificate showing my late mother's name).

Biggles

tonyhamm wrote: »

There is no requirement for the bank to see any will - the executor is responsible for that bit, not the bank.

Without seeing the will, how will they know who the executor is?

;-)

Extant

Biggles wrote: »

Without seeing the will, how will they know who the executor is?

;-)

Probate?

Letters of administration?

&c.