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Executry Bank Account
whizzing
Posts: 294 Forumite
My husband is the executor for his mothers estate and has an account called his name as executor of mother name. Now the account has the sale of her house proceeds in it. This is to be distributed to him and his brothers and sisters. This amount together with my husband's own accounts with the same bank now total over £85K is this a problem?
0
Comments
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If the account is in his name and he's just renamed it via online banking it counts as his money for FSCS purposes.
If the account has been formally opened as an executor account it takes on it's own personality and has a separate £85k of protection.0
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