Closing deceased Bank account - Funeral costs

mystic_trev

Sorry if this has been discussed before, but can't seem to find anything.

My mother died 10 days ago, and had spent the last few moths in a Nursing home. I handled all of her finances, and had control of her Bank account online. I haven't got round to informing the Bank, but will do so next week.

What I want to know is, would it be OK for me to withdraw funds to cover her Funeral costs, prior to me informing the Bank of her death?

I'm one of the Executors and will be in charge of administrating the Estate. Nearly all of her remaining Estate is left to me.

thanks

TonyMMM

If you have access, you could withdraw the money as you suggest but legally you should leave her bank account alone until probate etc. is sorted.

When you tell the bank of her death, the account will be frozen. But they will pay the funeral costs to the FD direct if you arrange for the bill to be sent straight to the bank (which is common practice).

Whether they will insist on probate for you to access the account after you notify them depends on the policy of the bank, and usually the amount in the account. They may release it to you immediately as executor if you sign an indemnity form.

Whatever you decide to do, keep proper records to avoid any arguments later on.

Yorkshireman99

mystic_trev wrote: »

Sorry if this has been discussed before, but can't seem to find anything.

My mother died 10 days ago, and had spent the last few moths in a Nursing home. I handled all of her finances, and had control of her Bank account online. I haven't got round to informing the Bank, but will do so next week.

What I want to know is, would it be OK for me to withdraw funds to cover her Funeral costs, prior to me informing the Bank of her death?

I'm one of the Executors and will be in charge of administrating the Estate. Nearly all of her remaining Estate is left to me.

thanks

You cannot legally do that. To do so is actually theft and breaches the bank rules. Don't expect them to cooperate if you do this. You need to tell the bank immediately. The bank will release funds to pay the funeral director.

Keep_pedalling

Do not draw any money from her account, power of attorney ceases on death so you have no authority to touch it.

As has already been said, provided the funds are there the bank will usually pay the FD directly.

mystic_trev

Thanks guys, pretty much the replies I was expecting, and I'll be closing the account on Monday. I've already paid the Funeral Directors £1,000 upfront from my account. Luckily I'm fairly well off, so can afford to wait until probate.

BEAT_THE_DEBT

Hi i am in same situ. What happens to any money owed to him from private pension etc? Can they pay it in a frozen bank account. Obviously i will be sending certs off as soon as i get them thanks

Yorkshireman99

You need to ask the bank to open an executor's account for any incoming payments.