Document signed by a Commissioner for Oaths

RomfordNavy

Thrugelmir wrote: »

Was there a will?

Yes, it gives all assets to his wife.

badger09

RomfordNavy wrote: »

I was hoping we didn't need to go to probate, expected it to be simpler without that complication.

Some banks require Probate for 'relatively' small amounts. So, even if there is no other requirement for Probate you might have to obtain it, just to release money from one bank.

RomfordNavy wrote: »

Trying to get an ISA transfered to his spouse as next of kin.

Which bank? How much is in the ISA?

Just to be clear, even if you have Probate, the bank will not simply transfer bank with simply transfer the deceased's ISA into his wife's ISA. Instead, his wife will be entitled to an additional ISA allowance, equal to the amount in her deceased husband's ISA

RomfordNavy

Linton wrote: »

You can get an oath commissioned just be asking at a local solicitors, possibly just for a £5 donation to their charity box. It is no great issue.

Thanks Linton, did that today and was surprised to find no appointment necessary, just walked in of the street and they did it there and then, cost £5.

RomfordNavy

badger09 wrote: »

Some banks require Probate for 'relatively' small amounts. So, even if there is no other requirement for Probate you might have to obtain it, just to release money from one bank.




Which bank? How much is in the ISA?

Just to be clear, even if you have Probate, the bank will not simply transfer bank with simply transfer the deceased's ISA into his wife's ISA. Instead, his wife will be entitled to an additional ISA allowance, equal to the amount in her deceased husband's ISA

I'm beginning to wonder whether it is worth the effort trying to retain that ISA allowance. It is only just over £20k and cash ISAs are paying such a low amount of interest it hardly seems worth the paperwork.

badger09

RomfordNavy wrote: »

I'm beginning to wonder whether it is worth the effort trying to retain that ISA allowance. It is only just over £20k and cash ISAs are paying such a low amount of interest it hardly seems worth the paperwork.

That's for you to decide. Depends on the wife's overall financial position. Would she consider S&S ISA?

RomfordNavy

badger09 wrote: »

That's for you to decide. Depends on the wife's overall financial position. Would she consider S&S ISA?

Overall (including this Virgin ISA) under £100k. For the moment and to simplify the process she has applied top have the £20k moved into a Virgin ISA in her own name. When that is complete she can then transfer the whole ISA elsewhere.

She does need to consider where to invest this now whether that be Equities, Peer-to peer, Funds etc.

xylophone

Re ISA

https://www.which.co.uk/money/savings-and-isas/isas/cash-isas/can-you-inherit-an-isa-av3zk0s5ud6q