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Banks and deceased accounts
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I accept that the term 'next of Kin' is an old fashioned one and has no legal standing these days, maybe a better description would have been close relative or representitive. Either way, the end result is the same. Other close family members were not informed or, to the best of my knowledge, enquired about by the bank. Nor, as far as I can gather, was any sort of form signed. This was the concern in my OP.
The only document the bank had sight of was the death cert, which named my sister as 'Informant'. She obviously proved she was my mother's daughter and that seems to be sufficient for the bank to accept her as representitive and carry out the transaction. A letter I have from the bank says ' The Bank has a policy in place where it will release funds to the personal representitive if the deceased's assets are £15.000 or below'. (What happens above that figure I wonder).
My mother signed nothing appointing anyone to an 'executive' position nor was there any legal involvement.
So, it seems there is a monitary figure which decides policy. Right or wrong, I still think something on the lines of a document pointed out by nho should be the norm.Yes, I usually tell it as I see it and respond where I see the need, but never are my comments ment to be taken personally.0 -
The bank is not at fault. They released the funds to the personal representative i.e. the person who produced the death certificate and signed to say that were the entitled beneficiary of the estate. That is where the banks responsibility ends.
It is not their problem. You need to stop dwelling on what the bank have done because they have acted neither dishonestly or illegally.
It is now up to you to pursue a claim against your sister for the money you are entitled to.0 -
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So, it seems there is a monitary figure which decides policy. Right or wrong, I still think something on the lines of a document pointed out by nho should be the norm.
Despite overwhelming evidence to the contrary - you seem intent upon heading up the same cul de sac.
Yes there is usually a monetary divide. No - it does not make a jot of difference as to the care taken in releasing the cash. Where it falls below the threshold (£5k to £15k depending on Bank / Insce company) where the Bank will release it informally then the Bank ensures it is released into the care of the personal representative. Above the threshold then Probate is needed - again it is released into the care of the Executor.
So - your Sister has satisfied the Bank she is the personal representative. Lies / deceit / fraud ...... whichever?When someone dies, the personal representative is the person who administers the deceased person's estate. If they are named in the will they called the executor. If there is no will, or they are not named in the will, they are known as the administrator.
In Scotland, a personal representative is called either the executor-dative or the executor-nominative
We refer to both executors and administrators as personal representatives.If you want to test the depth of the water .........don't use both feet !0 -
So - your Sister has satisfied the Bank she is the personal representative. Lies / deceit / fraud ...... whichever?0
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I think the sole issue here is that Kew2U has not told us that the bank received such evidence,
Have you ever had to extract funds from a Bank - following a death? If so you would know that they don't release money unless they're fully satisfied it is going to the personal representative.
The real issue is that the OP does not know what was said / produced? And does not know the process. Yet is happy enough to blame the Bank(s) regardless.
The Bank isn't going to produce anything to him as evidence. Because he isn't the personal representative.If you want to test the depth of the water .........don't use both feet !0 -
I know some banks have claim forms that ask about 'next of kin' whereby they have to sign to accept one family member as the personal rep.
If the sister has not declared OP and others on this form then once again you have to chase the sister up and not the bank.
Sorry to duplicate answers but the bank is not at fault here IMO.0
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