Executor's Bank Account

jonesMUFCforever

So whilst all this is going on the money is still in mum's accounts earning interest.
It is only after grant of probate that funds are transferred to the Executors.

troubleinparadise

Dear Sliga,

I'm afraid I don't think you'll find an account operated as an Executor's account with any bank or financial institution that will pay interest.

Whilst you feel ripped off, and yes, losing interest on £130k is painful, I don't think you could have done it any other way without muddying the waters on transparency terms. In order to keep all the monies separate and to satisfy HMRC, beneficiaries, money laundering etc, I don't think you can do it another way.

In order to assuage your feelings of anger now, and to try to put it all behind you, spend a few of those thinking hours on finding out if you can open such an account that pays interest. Then you will know once and for all whether you could have done it differently.

I am in just your situation, but have not found a way of gaining interest within the constraints of an Executors Account. I have just put the possible lost interest out of my mind.