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Probate granted, next steps?
Reading1800
Posts: 1 Newbie
Hi all, simple estate ,cash only at Bank and NSI. Executors are my wife and her sister, Grant of Probate now held. Beneficiaries are those two plus a brother. All relationships are good. I had POA and therefore managed all Banking online. Is there any reason I can't get NSI monies paid back to the Bank account and split it 3 ways, rather than mess around with a new Executors account if I have email confirmation from the Executors? Ps Bank not aware of death.
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Comments
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There is no need for an executors account, and few banks seem to offer them anyway these days. The proceeds could be be payed into an account in the executors name(s) before distribution.
This should not be the deceased's account. Your authority to operate the accounts under the POA ceased immediately upon the death and the bank/NSI should have been informed at that stage.
The executors should speak to the bank now and see how they recommend they should proceed.0
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