Sole trader account

James656_2

Apologies if this has been posted before i couldn't find a specific thread about my problem.

My father ran a business using a sole traders account with Santander. My father was due to sign the business over to me because he was ill. Sadly he died a few weeks ago without transferring anything. My question is how do i go about setting up an account in my name. The problem we face is we cannot get access to the account. Ordinarily i would just go and set an account up, however because i have no/poor credit history i was wondering if this would prevent me having the same account as previously. The account had a £10000 overdraft facility and that is needed for the new account but with no credit history i assume this can't happen. I have personally been running the business for the last year anyway. If i can prove that the previous account is not in debt and all bills were paid promptly would that help.

As you can see i'm very confused as to what to do next any help on this subject will bemuch appreciated.

James

spenderdave

You won't be able to do that I am afraid. The money in that account will form part of your father's estate, and assuming you are one of the executers you will need to close the account (showing them the death certificate) and withdraw the funds to be distributed as per the will - if there is one. You will then need to set up a new business account, which as you say may prove difficult.