Credit Card holder death.

pearl123

Hi, I administer a credit card on behalf of a loved one who is incapable of doing it themselves. However, they have now passed away. £158 is outstanding on the credit card. Can I just pay it and let it come out of the deceased bank account. The account has not yet been frozen.
Or should I just pay it myself out of my own funds and put a bill into to the solicitor when probate is sorted out? I am the person who will inherit.

System

The Executor(s) should notify the credit card company of the death as soon as possible. They will then deal with it. Better to have the credit card account closed now than wait, as whilst I am sure it is in a safe place, there's always a risk to anyone of a credit card being stolen particularly if the house is empty.

Tom99

Do you need a solicitor to sort out probate?
Unless the solicitor is a named executor in the will or the estate is very complicated it will be much cheaper to do it yourself.

pearl123

Tom99 wrote: »

Do you need a solicitor to sort out probate?
Unless the solicitor is a named executor in the will or the estate is very complicated it will be much cheaper to do it yourself.

I am named as executor but there is a foreign asset which might make things more complex to work out. (The foreign asset is worth hardly anything, if anything. )

I have access to the credit card online. All I have to do is hit a link and a outstanding bill could be paid, which is why it is so tempting to do. I am aware i need to freeze bank accounts short. I do have access to all the accounts.

Tom99

pearl123 wrote: »

I am named as executor but there is a foreign asset which might make things more complex to work out. (The foreign asset is worth hardly anything, if anything. )

I have access to the credit card online. All I have to do is hit a link and a outstanding bill could be paid, which is why it is so tempting to do. I am aware i need to freeze bank accounts short. I do have access to all the accounts.

Why not apply for probate yourself then bring in a specialist if and when you need one.
I would be inclined to hit the link pay the bill then notify the bank.
You will still need to list the CC bill as a debt when you apply for probate as it was outstanding at the date of death.

getmore4less

One of the issues with letting professionals handle estates is there are some admin tasks that are trivial and cost a lot of money for no benefit.
They wrap these up in the general costs but for a foreign asset of little value could cost more than it is worth.

pearl123

Tom99 wrote: »

Why not apply for probate yourself then bring in a specialist if and when you need one.
I would be inclined to hit the link pay the bill then notify the bank.
You will still need to list the CC bill as a debt when you apply for probate as it was outstanding at the date of death.

One of the reasons I'd prefer to pay the bill via the credit card link is I want to give myself a few months before I start probate.

What I intend to get all the info regarding assets together from banks. I found a template on the following link, which gives sample letters. https://www.bereavementadvice.org/globalassets/pdfs/bac/step_by_step_guide_to_probate_amends_v1.pdf

I want to do as much as I can, then approach a solicitor. (I have done probate in the past but this is more complex.) I hope that my solicitors bill will be reduced because I've gathered the details of accounts.

pearl123

getmore4less wrote: »

One of the issues with letting professionals handle estates is there are some admin tasks that are trivial and cost a lot of money for no benefit.
They wrap these up in the general costs but for a foreign asset of little value could cost more than it is worth.

It's not an asset. It's a small piece of arable land. I've got a letter from a French solicitor, which states in his opinion that the land/ruin has zero or nil value. It was fenced in sometime during the 1960-70's. Yet somehow it has a squatter, who is storing their stuff, as there is a wooden ruin. There is a yearly governmental charge of Euro 100 because it has a ruined building on it. They see it as a building. It's a long running story which has never been resolved. It's scary that something that is worthless could cost me probate solicitors fees.

getmore4less

As executor and as you plan to administer you can start the procees of dealing with assets and accounts.

Paying the cc to get zero balance and closed might as well happen less to deal with later, just becomes part of the later paper accounting exercise.

Land is an asset even if zero(negative) value.
Has there been any attempt to sell it.

pearl123

getmore4less wrote: »

As executor and as you plan to administer you can start the procees of dealing with assets and accounts.

Paying the cc to get zero balance and closed might as well happen less to deal with later, just becomes part of the later paper accounting exercise.

Land is an asset even if zero(negative) value.
Has there been any attempt to sell it.

So to make this clear, I can start gathering info and then later pass on details to a solicitor for them to procedure further?

Yes, there was an attempt to sell it, twenty years ago for 1 Franc or something very similar. Nobody wanted it. Of course, land over time could become more valuable if there a local planning applications, but I suspect this is not the case.

badmemory

If it's value is zero have you thought of just signing it over to the squatter. Or do a deed of variation giving it to them?