Help to understand

Rachylou1981

Hi

My father passed away last week, I am sorting funeral plans (which I know makes me liable to pay). Father however seems to have a policy and I will be calling them today. I know he has a few thousand in the bank as I have found recent bank statements in the house. The bank were lovely and have explained the process once I have death certificate so need to wait to get in touch.

I've read a lot online and had a lot of people give me advice in person but I'm still confused and need some help. My main questions are surrounding Executor/Next of Kin etc:

Does the Executor have to be legally named somewhere? I have took control of sorting finances but unsure whether this makes me that or not?

Apart from his brother, I am the closest (but not the only) relative and I am the youngest of his 3 children but I am not sure this is down in writing anywhere as actual next of kin, not sure anyone is. Does this matter?

I found a will but this is just a handwritten bit of paper with nothing about finances. It has not been signed by anyone else. My siblings and I are named on there to help sort his estate. Will this be sufficient if anyone needs anything?

So overall, who decides whether I can deal with his finances and estate myself or whether this needs to go to probate?

(We are talking a few thousand, which will likely pay for funeral extras not on the policy and no other assets at all)

getmore4less

Executor is a person named in a will then they apply for probate

If there is no executor named in a valid will or no will then letters of administration is applied for.

You will hear "probate" used for both of those but it is better to understand the difference.

the result of the application is a "grant" that's the bit of paper that people refer too when they say things like "have you got probate yet"

with no will you need to read up the term "Intestate"

there is an order people can apply to deal with someone estate,, spouse first then children.

assuming no spouse then the children have equal right to deal with an estate, if the other two are happy for you to do it then you can get on with it.

BUT be sure the estate is solvent if there are debts that exceed the assets you need to be careful so take your time collecting the information of assets and debts.

it can take a while to collect all the information from where he lived(utilities etc) and if collecting benefits the relevant departments can be very slow.

From what you have said this may not need a "grant" if all the assets are accessible, banks for lowish amounts will release funds to relatives with out one.

next of kin does not mean anything when it comes to managing estates

Rachylou1981

Thanks for your reply.

The will does not seem to be official in any way, just scribbling on a piece of paper, no Executor named.

There is no spouse and my siblings are happy for me to deal with everything.

The insurance policy co seem happy for me to get the money directly and all I do is agree that in the case of dispute, I will pay the money back which is fine.

His bank seemed to say the above to me too but unless they change their mind due to there being no official will or executor

So that's my point really - does it always have to go that far in a straight forward amicable claim to a very small estate?

Keep_pedalling

An unsigned will is invalid, so in effect he died intestate, any of his children can deal with his estate, just make sure that your siblings are happy for you to deal with it and keep them infirmed to prevent any conflict occurring.

Most banks will release monies held up to a certain amount without probate, with Barclays its £30k. When you get to that stage make an appointment at your nearest branch, don’t just turn up. They will want to see the death certificate and some evidence that you are who you say you are.

Rachylou1981

Keep_pedalling wrote: »

An unsigned will is invalid, so in effect he died intestate, any of his children can deal with his estate, just make sure that your siblings are happy for you to deal with it and keep them infirmed to prevent any conflict occurring.

Most banks will release monies held up to a certain amount without probate, with Barclays its £30k. When you get to that stage make an appointment at your nearest branch, don’t just turn up. They will want to see the death certificate and some evidence that you are who you say you are.

It's only a few thousand and the bank told me to call them when I have death certificate, which should be today or tomorrow. They are also sending me a bereavement pack out in the post.

I have all his documentation now and there is nothing to say he has any debts, apart from calling his gas and water company but his accounts have not not been frozen yet so they can be paid from there if necessary (and they are allowed to take it).

Siblings and I are close and they will be no disputes, although I bet most say that.

Yorkshireman99

Rachylou1981 wrote: »

It's only a few thousand and the bank told me to call them when I have death certificate, which should be today or tomorrow. They are also sending me a bereavement pack out in the post.

I have all his documentation now and there is nothing to say he has any debts, apart from calling his gas and water company but his accounts have not not been frozen yet so they can be paid from there if necessary (and they are allowed to take it).

Siblings and I are close and they will be no disputes, although I bet most say that.

The banks should already have forzen the accounts to prevent any standing orders or direct debits being paid. However they may wnat sight of the death certificate first. It sounds as if you can do the whole think without a grant.

Margot123

Please accept my condolences for your loss.

Did your Dad own his own home? If not, and the amount in the bank after testamentary expenses (cost of certificates, funeral, memorial etc) is under £5,000, then I don't think you need to apply for letters of administration.

Also, if your Dad was in receipt of certain benefits, you may be entitled to something towards the funeral. Call the DWP for advice as soon as you can.

Robin9

Rachylou1981 wrote: »

I found a will but this is just a handwritten bit of paper with nothing about finances. It has not been signed by anyone else. My siblings and I are named on there to help sort his estate. Will this be sufficient if anyone needs anything?)

As others have said this is not a will and has no legal basis.

Does it say - perhaps - I leave my grandfather clock to my eldest son ? This can help to understand your father's wishes and save any family disagreements.

Keep_pedalling

Margot123 wrote: »

Please accept my condolences for your loss.

Did your Dad own his own home? If not, and the amount in the bank after testamentary expenses (cost of certificates, funeral, memorial etc) is under £5,000, then I don't think you need to apply for letters of administration.

Also, if your Dad was in receipt of certain benefits, you may be entitled to something towards the funeral. Call the DWP for advice as soon as you can.

The £5,000 figure is not a hard and fast rule, you can wind up an estate with a significantly higher value than that as long as you don’t own property and your assets are all held by institutions that will release them without probate. Each bank has its own rules on how much they will release.

On the other hand if any assets, such as stocks and share, held in a sub £5000 estate are held with an institution that won’t release anything without probate, you will have to apply for it.

Rachylou1981

Thanks again for responses, will answer all questions below:

There are no assets at all, he had a rented property and the landlord is working with us and he is owed nothing.

He was on benefits but according to info online, we won't get help as I work full time and am the "closest" living relative. I have also agreed to arrange funeral, therefore cannot get a funeral payment as I should be in receipt of benefits to do so.

The letter we found which is closest to a will just says to sort his house and take what we want for keepsakes. Money or any other wishes are not mentioned.

The money in the bank is less than £5000 and there will be no money elsewhere apart from the insurance policy, who seem have to release funds to pay (this will obvs pay for funeral instead of me)

The bank said they would hold off freezing account until I had managed to get death certificate and ring his utility companies

I will get the death certificate tomorrow

pmlindyloo

You will not need to apply for probate or letters of administration because there is no property and very little money.

A useful link here:

https://www.citizensadvice.org.uk/family/death-and-wills/dealing-with-the-financial-affairs-of-someone-who-has-died/#do_you_always_need_probate_or_letters_of_administration