Death

I_am_spartacus

Guys,

I’ve thanked you all for your responses.

It would appear to confirm that as Benjamin Franklin said “...but in this world nothing can be said to be certain, except death and taxes.”

And in this case when it occurs both at the same time! (in the scenario of my will executor having to get a Probate!)

badger09

I_am_spartacus wrote: »

Guys,

I’ve thanked you all for your responses.

It would appear to confirm that as Benjamin Franklin said “...but in this world nothing can be said to be certain, except death and taxes.”

And in this case when it occurs both at the same time! (in the scenario of my will executor having to get a Probate!)

There is a solution to your dilemma. Don't die within 12 months;)

lmg1952

This is a bit of a tangent but does lead on from the thread. I had similar problems with educating finance companies about their own probate policies 6 years ago when my father died. My brother is now executor with my mother, using a solicitor (mistake) and has finally got grant of probate, does anyone know if there is any legal requirement on timescales for banks etc to release the funds once notified and assuming no issues? Some are good, others are just difficult and sitting on money which isn't theirs.

polymaff

I_am_spartacus wrote: »

Hi Guys,

Just after a bit of knowledge from you.

I am just about to tie up some money in a 1 year fixed term savings account with “Metro Bank”.
Reading the small print, after a 14 day cooling off period I can’t have access to the money for the term period (I understand why), but not to be too morbid if I was to die before the period ends would my will executor be able to gain immediate access to the money?

I did phone “Metro Bank” and the person I spoke to said that a power of attorney would be needed?

Anyone know the definitive correct answer?

Thanking you in advance for any replies.

Google

Metro Bank Death

badger09

lmg1952 wrote: »

This is a bit of a tangent but does lead on from the thread. I had similar problems with educating finance companies about their own probate policies 6 years ago when my father died. My brother is now executor with my mother, using a solicitor (mistake) and has finally got grant of probate, does anyone know if there is any legal requirement on timescales for banks etc to release the funds once notified and assuming no issues? Some are good, others are just difficult and sitting on money which isn't theirs.

I'm not aware of any legal requirement on timescale for releasing money.

Last year, as executor for my late sister's estate, I had amazing service from Santander. Within 4 days of me posting the Grant of Probate & their Bereavement instruction form, 2 substantial deposits were made into the account I had opened for the purpose, followed a few days later by letters & closing statements.

Aldermore however took 2 weeks to send 2 cheques and closing statements.

coffeehound

And the award for most cheerful thread title of the week goes to . . .

spenderdave

I trust you are not Bazza who signs himself as Spartacus on another forum I frequent? (If so, been reading your story and wish you well).
You may be better posting this in the Death Funerals and Probate forum (https://forums.moneysavingexpert.com/forumdisplay.php?f=217)

2010

A little off topic.
If someone has a joint account with their partner, I assume the surviving partner can just carry on using the joint savings account as normal.

Is this correct?