How can executors minimise risk to estates greater than 85,000

edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
3 replies 983 views
mancmummancmum Forumite
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edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
Is there any advice on how to deal with the 85,000 top limit on banking guarantees when an estate is worth more than this.

I am working on the assumption that all funds are paid into an executors account. Correct me if I am wrong on this.

Replies

  • troubleinparadisetroubleinparadise Forumite
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    I don't know if there is an answer, but it was something that bothered me when executing an estate.

    Make interim beneficiary payments if Probate has been granted, leaving less in the account?

    To be flippant, avoiding certain European countries banks to hold the account in.... ;)
  • dzug1dzug1 Forumite
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    Does the banking guarantee apply to business accounts anyway? An executor's account is normally regarded as such.
  • ValHallerValHaller Forumite
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    Maintain the estate as assets rather than funds. Liquidate only as required in order to distribute funds. This reduces exposure.
    You might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'
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