Can inheritance money be payed directly into a savings account?

ellrhow

The main point here is about skipping the current account. Is it possible for inheritance money to be payed, for example, directly into a premium bond account?

planteria

i don't see why it can't be paid directly into any account in the recipient's name, but not sure whether PBs need to be 'bought' by the purchaser, from their own account

G_M

Once the Executers of the Will have obtained Probate (following Estate Valuation, paying off any debts, paying Inheritance Tax etc) they can distribute the Estate to the Beneficiaries.

They can pass what is due to the Beneficiary in any way the Beneficiary requests eg cash to a bank account orsavings account; transferring investments from the Deceased's name to the Beneficiary's name etc

However PBs need to be purchased by the owner of the Bond. See:

http://www.nsandi.com/savings-premium-bonds?tabid=e and

http://www.nsandi.com/savings-premium-bonds-other-ways-apply