savings account interest during probate process

Dad died earlier this year. Most of his estate was in Fixed Savings Bonds. All his accounts have been frozen during the probate process.
Can anyone tell me if the money in these accounts continues to earn interest until I have the Grant of Representation and withdraw or decide what to do with the money? (I am sole executor)

Comments

  • dzug1
    dzug1 Posts: 13,535 Forumite
    First Post Combo Breaker
    Depends on the T&C of the various bonds, but it would be normal for interest to continue to accrue.

    Best ask the issuer(s)
  • .........I would agree but if he was not a taxpayer interest will be taxed as from date of death.
  • CKhalvashi
    CKhalvashi Posts: 12,060 Forumite
    First Anniversary First Post Photogenic Name Dropper
    .........I would agree but if he was not a taxpayer interest will be taxed as from date of death.

    This is the tax situation from ISAs, so this would be my thinking too.

    CK
    💙💛 💔
  • Biggles
    Biggles Posts: 8,209 Forumite
    Combo Breaker First Post
    stevet2607 wrote: »
    Can anyone tell me if the money in these accounts continues to earn interest until I have the Grant of Representation and withdraw or decide what to do with the money?
    My experience was that all my mother's accounts continued to pay interest at the full rate until either term or probate, whichever came first, with the single exception of Yorkshire Building Society, who terminated her interest forthwith on the grounds she hadn't given them the amount of notice required in their T&Cs (and, yes, it still rankles...).
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