Bank accounts of the deceased

Kaur88

Hi
I hope someone can help us out!
My brother in law passed away a few weeks ago. He was married with two young children.

He had some learning difficulties but still worked. His father controled his bank account. As far as we are aware his father also put himself down as next of kin under all his accounts.

He has all the bank account details and card details including the pin number so accesses the account when ever. We haven't received the death certificate yet as it will take a few weeks.

He won't allow his wife to gain access to account we have not informed the bank of his death byet as we need the money to pay for the funeral. His father has given the bank account but won't provide us with any other information.

My question is once the bank is notified of the death will all ownership of the account go to his father as he is the next of kin? There is no will as we are aware. What should be our next steps to insure his wife gains access to the account?

Your help would be much appreciated.

Thanks

Yorkshireman99

Kaur88 wrote: »

Hi
I hope someone can help us out!
My brother in law passed away a few weeks ago. He was married with two young children.

He had some learning difficulties but still worked. His father controled his bank account. As far as we are aware his father also put himself down as next of kin under all his accounts.

He has all the bank account details and card details including the pin number so accesses the account when ever. We haven't received the death certificate yet as it will take a few weeks.

He won't allow his wife to gain access to account we have not informed the bank of his death byet as we need the money to pay for the funeral. His father has given the bank account but won't provide us with any other information.

My question is once the bank is notified of the death will all ownership of the account go to his father as he is the next of kin? There is no will as we are aware. What should be our next steps to insure his wife gains access to the account?

Your help would be much appreciated.

Thanks

Notifying the bank will freeze the account but the will release funds for the funeral. The funds belong to the estate not the next of kin.

Flugelhorn

the bank will initially release funds for the funeral and then, depending on the balance of the account (limit varies by bank), will transfer the balance in accordance with the will (if there is one) or intestacy rules (in this case , the widow).
Only thing would be if the account is actually a joint account with the father ?

Kaur88

Hi thanks for replying the account is not joint.the father has just placed him as next of kin.

Kaur88

Hi thanks for replying.

Does that mean the money will automatically be transferred to his wife?

Flugelhorn

Kaur88 wrote: »

Hi thanks for replying.

Does that mean the money will automatically be transferred to his wife?

Not automatically, someone (the widow or someone helping her) will have to do something

Depends on a couple of things:

1) did he leave a will?

If so then the will will determine what happens to any money, of he didn't then the money will be distributed as per intestacy laws - in this case, to his wife.

2) how much money was in the account?

Each bank has a limit (there is a list somewhere) of the amounts they will release without probate or letters of admin, if it is above the level then things get more complicated

Presuming there is no will and the amount is below the level, then the only person who the bank would pay the money to is the wife - would probably need to go in to the bank with death / marriage certs etc and discuss it with them. They usually prefer you to make an appointment as they can make sure someone is available to see you.

for example:

1) Uncle died, no will, no kids, no spouse. Niece & Nephew dealing with estate and gave all details to the bank . Bank transferred 13K to Uncle's brother (as nearest living relative).
2) Mother died, will stated all to daughter, bank transferred 20K to daughter on sight of will & death certificate

Keep_pedalling

His wife should inform the bank without delay. Any authority her FIL had ended with her husbands death.

Next of kin does not have any meaning here. Did he have a will in place? If not then the laws of intestate apply which means the estate will be distributed between her and his children depending on the value of the estate and which part of the UK he lived.

Kaur88

His wife is afraid of FIL my worry bis that he will empty the account by the time we convince her to report his death. Is there any laws protecting her of he does do this?

Yorkshireman99

Kaur88 wrote: »

His wife is afraid of FIL my worry bis that he will empty the account by the time we convince her to report his death. Is there any laws protecting her of he does do this?

What is stopping g her going to the bank now? Even if she does not have the final death certificate she can still tell the bank in particular about her concerns. She should do this on Monday.

Flugelhorn

I don't think there are any laws protecting her - at least not any that anyone is going to do anything about.

She can protect herself by (as others have suggested) letting the bank know ASAP - they can then freeze the account to everything but the funeral directors payment.

In not letting them know, she is willingly allowing the father in law (who has been given PIN numbers etc) to continue to access the money

Ratkin007

If wife won't inform bank then see if you can. They might freeze accounts on your say so and then if he tries to take out any money they can ask him the questions, worth a try. Father in law should not access accounts but if banks don't know of the death, there's nothing stopping him. If he empties account then she'd have to look at taking legal action. I'm not sure anyone should bd accessing the account unless it's joint. In relation to the funeral, the bank can pay the funeral parlour directly.