Premium Bonds

Paul_DNAP

CBRPilot wrote: »

Thank you all for your prompt and helpful replies. Having just spent another twenty minutes on the phone to NS and I , I've been told that only the eldest son can deal with his late mothers premium bonds and to do that he will have to apply for probate. But if anyone knows otherwise please inform me hear.
Regards

That is true, as the next of kin in the absence of a will, he is also the default executor of the estate. You will both need to take advice on how to transfer that responsibility to yourself if he is unable/unwilling to fulfil his duties.

bowlhead99

I can understand that it's upsetting, but from NS&I's perspective things would be very tricky for them if they were expected to act on instructions of someone who was not related to the deceased and did not have a grant of probate (because there was no will) and did not have a grant of letters of administration (because the partner wasn't eligible to apply for one).

If they allowed trusted friends and partners of the deceased to access the deceased's cash, they would get all sorts of people turning up and crying to them that they were entitled to withdrawal money without the paperwork to prove that they had that right. There could be multiple people claiming the same thing, for every account.

The sons can get letters of administration to show that they have power to deal with the estate and if they would like you to assist because they don't practically want to deal with NS&I, I would believe the solicitor who tells you that they should be able to give you a power of attorney to deal with all their affairs. This does not need to be a lasting power of attorney to deal with all of their affairs forever, but can be a specific power of attorney to deal with a specific task or tasks.

A power of attorney is literally a document giving you the power to enter into transactions on their behalf. However, it only practically works if they actually have the power themselves, to do the things that they want you to do for them. If they don't have the power to take money out of the nsandi accounts because they have not applied for letters of administration, then they are not in a position to give you POA to do it.

If they are accepting of the action that you would take (to split the money evenly between them) and they acknowledge that you are unable to deal with NS&I (because you don't have the legal right to do so) then they are going to have to put some effort into it themselves. It seems a bit of a nonsense for them to get letters of administration for themselves but then write up a legally binding power of attorney to make you deal with NS&I for them. Tell them to grow up, get the letters of administration for themselves and then one of them write to NSAndI with the supporting documents to collect the cash proceeds of the account.

Then he can give half of the proceeds to the other, or - for the illusion of propriety - give it all to you on trust for the both of them, to add to the collective kitty before you pay it out to the two of them.

tony4563

I hope the matter is sorted out soon for you, but to anyone who has not made a will, this is a classic example of why you should.

Rodders53

Sorry for your loss.

One or both the sons apply for Letters of Administration but do so appointing you as their Attorney to oversee the process... i.e. do the leg work. {A Solicitor acts as Attorney in such matters routinely - with will or without}

See section 4 of the form to be filled in PA1A https://www.gov.uk/government/publications/form-pa1a-apply-for-probate-deceased-did-not-leave-a-will

NB Your partners wishes match the Intestacy rules (assuming only two children) i.e. a 50:50 split of all her assets.