Value of estate question

katy123

Hi

We've ascertained that the estate is made up of £2.5k bank account and £3.5k of funeral cost. = negative £1.5k However, it has just come to light that there is a second bank account (value unknown). How do we get a value of this bank account (paperless account) so that we can ascertain if

A. probate is required
B. chances of solicitor renouncing their executiveship.

Got a feeling it is the job of the solicitor

Yorkshireman99

The solicitor will not want to act if they will not get paid. Someone else can apply for letters of administration with the will annexed. However you may be able to avoid probate if the 2nd bank will release the funds without it. Write to or phone the bank and ask them. They may just accept the death certificate.

katy123

Thanks, I think I've managed to join all the dots.

Who can apply for letter of administration? She had no next of kin (all abroad), wasn't married and had no children. Can my grandad or even my dad step in (i'm third generation).

You've helped me piece it all together. Thank you so much. Given that solcitors do not/will not act as executor for small estates, there's an incentive for beneficiaries to under declare the estate to them in the hope they will renounce their executorship...some people would do that, obviously not us.

Yorkshireman99

I would phone the Probate Office and ask them.


https://www.lawontheweb.co.uk/personal/probate-offices


Beware the many pseudo companies pretending to be official.

Keep_pedalling

Make an appointment with the second bank go along with your grandfather, taking a copy of the death certificate, and proof of your GFs ID. Most banks will release funds without anything else. In the case of Barclays they will release up to £30,000, so it is highly unlikely that you will have to go anywhere near applying for probate.

konark

Was there a will?

getmore4less

katy123 wrote: »

Thanks, I think I've managed to join all the dots.

Who can apply for letter of administration? She had no next of kin (all abroad), wasn't married and had no children. Can my grandad or even my dad step in (i'm third generation).

You've helped me piece it all together. Thank you so much. Given that solcitors do not/will not act as executor for small estates, there's an incentive for beneficiaries to under declare the estate to them in the hope they will renounce their executorship...some people would do that, obviously not us.

if administration does end up needing LOA(will attached)

If granddad is the residual/only beneficiary he can apply as first in line to do so if the named executors step down.

As you said the preference would be for your dad to do it maybe even yourself,

Then that can be done using the POA option

That would be box a6 reason E for executors, will need to check which boxes for application under beneficial interest.

katy123

This is what we've worked out. Bank will not pay out funds, insist on going to solicitor as they are executor (noticed on will). Will be meeting solicitor soon and ask if they will renounce executorship. Do i get a letter from them or something? Will then try to apply for probate under "apply for letters of administration with the will annexed" with my dad as executor (grandad is the beneficiary but too old to deal with this all).

Jenniefour

katy123 wrote: »

Will be meeting solicitor soon and ask if they will renounce executorship.

They won't want to touch it, no money in the estate for them to get paid. Just get them to give it you in writing.

sammyjammy

Whoops misread post

Saddness

Hi.

This is the first time using this forum, so i apologies if I'm doing it wrong.

I'm just needing some advice, how much power does an executor have over the beneficiary's in decision making.

There are two of us who are the executors, both of us are representing each others side of the family as my father (now deceased) remarried and so there are step children involved.

The problem is that there is myself and my sister, who are my fathers blood, and then there are 4 step children from the marriage.

it feels like the steps are all ganging up on me and manipulating the other executor which is their sister to have things go in their direction.

how much power by the title of executor do i have?