probate needed?

2stixoftwix

my mother in law died just after xmas.
My husband is executor in the will.
My mother in law lived in a care home, and had a bank account with £23,000 in which my husband was a signatory on

There are no debts, no property, no other accounts, no spouses etc (she was 94) no inheritance tax

I thought any estate over £5000 needed probate, but now I'm not so sure as the bank on showing the death certificate has already transferred mother in laws money to my husbands account of which he will pay the funeral costs and then share between the beneficiaries

Does he need probate since he has the money from the bank?

Thanks

getmore4less

Not required.

Keep_pedalling

Depends on the bank, Barclays for instance will release up to £30,000 without probate, other banks have different limits.

getmore4less

Does he need probate since he has the money from the bank?

Mojisola

2stixoftwix wrote: »

I thought any estate over £5000 needed probate, but now I'm not so sure as the bank on showing the death certificate has already transferred mother in laws money to my husbands account of which he will pay the funeral costs and then share between the beneficiaries

Does he need probate since he has the money from the bank?

No. ........................

2stixoftwix

Thanks No is the answer

Keep_pedalling

getmore4less wrote: »

Does he need probate since he has the money from the bank?

I missed the word "had"

Tuesday_Tenor

As others have said, in this case you don't need probate as there is no land, property or shares involved and the funds in the bank were below the threshold that that particular bank has set as the criteria for requiring probate.

Authoritative source:
https://www.gov.uk/wills-probate-inheritance

But you haven't plucked the £5000 threshold figure out of thin air. It USED TO BE the case that any estate over £5000 required probate. I'm not sure when this criteria was dropped - about 10 years ago?