How can i deposit a cheque made out to executors?

sniper786

We have been sent a cheque by my fathers insurance company for his car policy after he passed away.

It is made out to the executors of mr xxxxx xxxxxx.

Who should deposit this? Me or my mother and will the bank ask us for any proof?

getmore4less

Who are the executors.

sniper786

getmore4less wrote: »

Who are the executors.

Our solicitor carried out probate but he didn't formally let me know who the executor is/are as to be honest my dad didn't leave anything behind.

I would expect it to be me or my mum

Gingernutty

The executor, as part of his duties, is required to set up a bank account for the handling of the estate, where all the monies due to the estate can be gathered in before paying debts,costs and being distributed.

If any property or possessions have to be sold or if there are any bank or building society accounts that need to be shut down then all the monies would go into that account.

If there is a solicitor involved in handling the probate, then the cheque should probably go to him.

Ask him/her/them first thing Monday.

getmore4less

Gingernutty wrote: »

The executor, as part of his duties, is required to set up a bank account for the handling of the estate, where all the monies due to the estate can be gathered in before paying debts,costs and being distributed.

it does not have to be a special seperate account a personal existing acount would do.

If any property or possessions have to be sold or if there are any bank or building society accounts that need to be shut down then all the monies would go into that account.

If there is a solicitor involved in handling the probate, then the cheque should probably go to him.

Ask him/her/them first thing Monday.

agree with the last bit check with the solicitor.

getmore4less

sniper786 wrote: »

Our solicitor carried out probate but he didn't formally let me know who the executor is/are as to be honest my dad didn't leave anything behind.

I would expect it to be me or my mum

best to check, if there was a will it would be in that if not(named or no will) then your mum would be first in line and would have had to instruct the solicitor to do it.

check with the solicitor what to do with the cheque

Naf

I thought the executors were named on the probate?
This might depend on different bank's policies, too.
When I was with Santander if the total estate was <5k it was a quick form; 5k-15k there was a bit needed signing by solicitor and >15k needed probate. Then it could just go into the executor's personal account.
I'm pretty sure every time I did one, executors were named on the probate.

zzzLazyDaisy

The solicitor should have sent your mother a copy of the 'letters of administration' (the probate document). The executor is named in that document (if there was no will, s/he would be described as 'the administrator).

However, if the solicitor dealt with probate, it is also likely that s/he dealt with the winding up of your father's affairs? In that case you would need to forward the cheque to the solicitor, and they would send you a cheque made out in your name.

Speak to your solicitor tomorrow.

As an aside (for anyone else reading this thread) it is not difficult to deal with probate, and unless it is a particularly complicated estate, there is no need to pay a solicitor to do this. The probate offices are used to dealing with recently bereaved people, and are generally very patient and helpful.

If the assets in the estate (property, investments, cash etc) come to less than £5000 you don't need probate. If they are between £5000 and £15000 it is in the discretion of the financial institution. Anything over £15000 you must get probate.

Goldenyears

sniper786 wrote: »

We have been sent a cheque by my fathers insurance company for his car policy after he passed away.

It is made out to the executors of mr xxxxx xxxxxx.

Who should deposit this? Me or my mother and will the bank ask us for any proof?

As executor for my late father's estate I successfully deposited a cheque like this last week. I took along the grant of probate naming me as executor, however to the counter staff (small HSBC branch) it was very unusual and there was much consultation in the back office, also it was a small amount less than £20. All insurance companies and utilities named me on their cheques so no problem. If it was a cheque for thousands I don't know whether it would be accepted over the counter. I probably would have got back to the sender.

madbadrob

Naf wrote: »

I thought the executors were named on the probate?
This might depend on different bank's policies, too.
When I was with Santander if the total estate was <5k it was a quick form; 5k-15k there was a bit needed signing by solicitor and >15k needed probate. Then it could just go into the executor's personal account.
I'm pretty sure every time I did one, executors were named on the probate.

Actually any estate worth over £5000 is required to pass through probate.

Rob

getmore4less

madbadrob wrote: »

Actually any estate worth over £5000 is required to pass through probate.

Rob

£15000

http://www.howto.co.uk/family/probate-wills/winding_up_an_estate_yourself_proving_your_right_to_act/#if-the-gross-estate-is-valued-under-15000

plenty of other links