a few questions in advance of situation

Savvy_Sue

Froglet wrote: »

That's interesting ,thanks.Maybe the account she holds at our local building society can be changed to an executors account,then we will only need to transfer the bank account money.

Nationwide told me they did not 'do' executor's accounts because they are not actually a bank.

Which is a shame, because I've just had a very sensitive private message from them after I got in touch to ask about closing what had been Mum's main current account. It had been a joint a/c with my co-executor, so all the funds had initially become 'his'. Because they were not 'his', we turned it into a joint a/c so that the utilities would continue to be paid but we could both see what was going on in it.

Opening new bank accounts (for any reason) isn't fun these days!

brewerdave

Tuesday_Tenor wrote: »

An executor's account is more like a current account. You MAY need a cheque book for paying certain things. More can be done by bank transfers nowadays but ours (4 years ago) didn't allow online banking, so distributions to beneficiaries were by cheque. A Building Soc savings account probably won't have a cheque book.

..since I got the Grant of Probate earlier this week, I've been into a local branch of Lloyds with whom I have set up the Executors account. They have ordered me a cheque book and confirmed that I CANNOT operate the account online.:(
If the Companies that I now need to pay,will not accept a cheque, then I have to visit the branch with the details of the creditor's account ,to arrange a bank transfer.
I intend to pressure the various creditors into accepting a cheque, or nothing !!:)

Tuesday_Tenor

brewerdave wrote: »

..since I got the Grant of Probate earlier this week, I've been into a local branch of Lloyds with whom I have set up the Executors account. They have ordered me a cheque book and confirmed that I CANNOT operate the account online.:(
If the Companies that I now need to pay,will not accept a cheque, then I have to visit the branch with the details of the creditor's account ,to arrange a bank transfer.
I intend to pressure the various creditors into accepting a cheque, or nothing !!:)

Although some young people operate finances without cheque books, I can't imagine any company you need to pay NOT accepting a cheque. There will always be a postal address somewhere on their website. Just send the cheque, with the invoice/full details of what it's for and I'm sure they will just get on an process it.

Froglet

It is certainly getting harder to use cheques these days.Not so bad for me as bank online but my Mum and sister don't use the internet and need to use cheques quite often.

Thanks again everyone,all this info is very useful,and I am not quite so worried now that it will be a difficult task when the time comes.

SevenOfNine

Santander closed our son's a/c & gave us a cheque for £18,000 on sight of the Death Cert.

Nationwide would not close an old savings a/c with less than £250 even with the Death Cert. They have said we must make another appointment when we have probate.

Go figure! We haven't even tried to open executors a/c, can't be asked to deal with the hassle at an awful time. We've just opened a separate a/c in our own joint names.

brewerdave

SevenOfNine wrote: »

Santander closed our son's a/c & gave us a cheque for £18,000 on sight of the Death Cert.

Nationwide would not close an old savings a/c with less than £250 even with the Death Cert. They have said we must make another appointment when we have probate.

I've had a similar experience with Nationwide for a lot less -they wanted Grant of Probate for £10.79 that was left in an old ISA:(

missbiggles1

Froglet wrote: »

Since 2 close relatives have died in the last 3 years and being more involved in the process of a will being administered I was talking with my mum and sister yesterday and it got us thinking. I have followed all the questions on this board and it is very helpful,,,all of you who post are very helpful and wondered if you could advise now.

My Mum is 86,well enough now but we have to face the inevitable when it happens.She lives with my middle sister,and we have one other who,like me,lives elsewhere.She owns her own house,and has 1 bank account and 1 savings account.She has made a will leaving everything to be divided up between the 3 of us.My sister and I are executors and my youngest sister who lives further away is more than happy with this.

When Mum dies my sister who lives with her knows we will sell the house,she has M.E ,has not worked for years and so is unable to buy us out.She will rent somewhere small and in about 6 years will get a reasonable pension . We know we shall have to put the utilities in her name meanwhile and she will pay for what she uses,whereas there is a largish amount of money already put away for the funeral,house expenses such as insurance etc and the selling expenses connected with it. (This money is in my name so it can be obtained easily)

I believe we have to open an executors account for Mum's money and the house sale until it is distributed .I believe as there is a house involved we have to get probate,is that correct?.There will be no IHT due.As we 3 are more than happy with the arrangements and trust each other is it law that the money from the savings and the house sale HAVE to be put into a separate account first,or can they be put into the account I have for all expenses following her death? We shall not need to touch the moderate amount of savings that Mum has until the house is sold anyway.

Sorry for the long post,i just wanted to check if my knowledge is correct as it will fall mainly on me to sort everything out as although my sister lives with Mum she is not so capable physically and mentally to deal with all the stuff that follows a death.At a time when you are grieving,it surely is better to have some understanding of the proceedures involved.


Thank you .

I hope you don't think that this is OT but does this sister realise that she'll have to use her share of the house proceeds to live on because she'll lose all means tested benefits (not DLA/PIP) when the house is sold, unless some better provision can be made for her?

It's not my area (there are threads on here on the subject) but I believe that your mother could leave your sister her share in trust to avoid this situation but it must be done while your mother is still alive. I really think that this is something that your mother should be looking at, rather than what she's currently planning to do.

http://www.scope.org.uk/support/families/will-trusts

Yorkshireman99

Froglet wrote: »

Since 2 close relatives have died in the last 3 years and being more involved in the process of a will being administered I was talking with my mum and sister yesterday and it got us thinking. I have followed all the questions on this board and it is very helpful,,,all of you who post are very helpful and wondered if you could advise now.

My Mum is 86,well enough now but we have to face the inevitable when it happens.She lives with my middle sister,and we have one other who,like me,lives elsewhere.She owns her own house,and has 1 bank account and 1 savings account.She has made a will leaving everything to be divided up between the 3 of us.My sister and I are executors and my youngest sister who lives further away is more than happy with this.

When Mum dies my sister who lives with her knows we will sell the house,she has M.E ,has not worked for years and so is unable to buy us out.She will rent somewhere small and in about 6 years will get a reasonable pension . We know we shall have to put the utilities in her name meanwhile and she will pay for what she uses,whereas there is a largish amount of money already put away for the funeral,house expenses such as insurance etc and the selling expenses connected with it. (This money is in my name so it can be obtained easily)

I believe we have to open an executors account for Mum's money and the house sale until it is distributed .I believe as there is a house involved we have to get probate,is that correct?.There will be no IHT due.As we 3 are more than happy with the arrangements and trust each other is it law that the money from the savings and the house sale HAVE to be put into a separate account first,or can they be put into the account I have for all expenses following her death? We shall not need to touch the moderate amount of savings that Mum has until the house is sold anyway.

Sorry for the long post,i just wanted to check if my knowledge is correct as it will fall mainly on me to sort everything out as although my sister lives with Mum she is not so capable physically and mentally to deal with all the stuff that follows a death.At a time when you are grieving,it surely is better to have some understanding of the proceedures involved.


Thank you .

You need to be very careful because you may be considered to have conspired with you sister to enable her to continue to claim means tested benefits. That could involve a big fine and possibly a prison sentence.

Froglet

missbiggles1 wrote: »

I hope you don't think that this is OT but does this sister realise that she'll have to use her share of the house proceeds to live on because she'll lose all means tested benefits (not DLA/PIP) when the house is sold, unless some better provision can be made for her?

It's not my area (there are threads on here on the subject) but I believe that your mother could leave your sister her share in trust to avoid this situation but it must be done while your mother is still alive. I really think that this is something that your mother should be looking at, rather than what she's currently planning to do.

http://www.scope.org.uk/support/families/will-trusts

At the end of last year myself,my sisters and my cousins received a legacy from an elderly relative.That took my sister with ME who was on benefits,over the limit,when added to some small savings she already had.Her benefits were stopped immediately and it is unlikely she will be able to claim for the foreseeable future.


When my Mum dies,she will use her share of the money from the house sale to rent a small bungalow or flat(there are quite a few in our area for older people in need ),she is already on a council list but while she has a home at present she will never be allocated one.


Her state pension will be more than the benefits she was getting,as she did work up until she was ill.She will also have a small private pension,and added to the sum she will inherit will be able to afford to rent.

Froglet

Yorkshireman99 wrote: »

You need to be very careful because you may be considered to have conspired with you sister to enable her to continue to claim merans tested benefits. That could involve a big fine and possibly a prison snetence.

We would never do that.My sister is as honest as the day is long and if you see the post above,in reply to miss biggles,she has already had them stopped ,due to an inheritance.


I assume you mean the fact that I have money put in my name for expenses? That is completely unrelated as the money came from my Mum for ease of paying for the funeral,estate agents,solicitor etc.