Joint bank accounts with Mum - is probate necessary

JanetAS

A few years ago Mum had me added to her two bank accounts as joint account holder. She passed away yesterday after a short illness.

She had a funeral plan (all paid for), so the family only expect to pay for the reception afterwards, and then later on for the interment of her ashes with our Dad.

Her estate at the moment stands probably less than £8,000 (which includes about £1,100 in Premium Bonds. (Direct debits are being taken out of one account until we give notice on her flat.) She is in sheltered housing and has no car, or high valuables, excect for pieces of inexpensive jewellery.

As I am Executor of the Will, do I still need to obtain Probate, seeing as the majority of the funds (5,000ish + 1500ish) are in joint accounts? I have my own cash cards with PINs to obtain the money and obviously want to be legal and above board here.

Your comments and advice would be greatly appreciated. I know I could pop into the bank holding the most funds (I now have the death certificate - well, 12 originals!) and ask them.

If I do still need Probate, I intend going down the DIY route. I've downloaded the forms and guidance notes, but just want to confirm if I still need to take this step.

Thanks
Janet

JanetAS

Forgot to add, the beneficiaries are myself and my three siblings only.

daska

TBH It doesn't sound as if you will (unless the bank or premium bonds require sight of the grant).

nearlyrich

Sorry for your loss x

McKneff

You may not realise it but any money in a joint account automatically yours when one of the account holder dies.

So the £8K may not now be £8k in her estate.

troubleinparadise

The funeral "tea" (within reason) and interment would form part of the funeral expenses paid out of the estate before distribution of the residue; so the family do not have to meet those costs unless they particularly wish to.

(The within reason aspect is an event appropriate to the person and their circumstances - I heard of a grand funeral for a titled lady where the cost of the flowers alone were in four figures....)

Fire_Fox

The reception and interment are chargeable to the estate not the family.

JanetAS

Thank you, yes, that seems to confirm my thoughts. Especially the extra costs involved.

Thank you for your condolences.

Mojisola

McKneff wrote: »

You may not realise it but any money in a joint account automatically yours when one of the account holder dies.

So the £8K may not now be £8k in her estate.

If you are claiming any means tested benefit, this could affect you as the £8k is now yours. If you give any of it away to your siblings, it would be seen as deprivation of assets.