Managing an estate - executors account.

edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
11 replies 4.1K views
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  • troubleinparadisetroubleinparadise Forumite
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    Looking at the replies here and on other forums, it does seem to vary from bank to bank. Nat West has been mentioned twice as willing to open an account prior to grant of probate and they are one of the banks my relative held accounts with. I will, however wait and open the account with Barclays as there's no real urgency and they are the most convenient for me personally.
    Thanks for replies!



    From my understanding of Executor accounts, you can open one before the Grant of Probate is issued, but you cannot access the funds within them, with the exception of the funeral payment, or HMRC IHT direct transfer payment.

    I opened an Executor account with NatWest as that was the bank for the deceased's accounts, and I also held accounts with them. Thus it was a simple transfer of the funds from the frozen accounts, plus my personal history cleared me fairly quickly with the new account application process.

    I was not able to use the account other than for deposits (except paying funeral expenses and HMRC IHT direct payment) prior to the Grant of Probate being made.

    I was fortunate in that there was a member of staff who dealt with it all who understood both the bank's processes, and was sympathetic with the sensitive situation. So a virtual bouquet of flowers to a bank for once!
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