Inheritance for a prisoner

Rizidawn

Hello
I am executor of my grandmothers will. My brother is a beneficiary but is in prison. He's been in a long time and no longer has any live bank accounts and passport is expired. Its quite alot of money. No idea when he will be released either.

Does anyone know if I can open an account for him? Have looked at trusts for another beneficiary but not sure that is appropriate and it involves solicitor fees.

Any advice very welcome.

Thank you

xylophone

I am executor of my grandmothers will.

Have you opened an executor's account?  It would be possible to hold your brother's money there but it would earn no interest.

I would suggest that you contact the prison governor and explain the situation. I doubt that the situation is unique and he may well be able to assist.

unforeseen

https://www.justice.gov.uk/downloads/offenders/psipso/psi-2012/psi-01-2012-manage-prisoner-finance.doc
gives the prison side of it

Dox

Rizidawn said:

Hello
I am executor of my grandmothers will. My brother is a beneficiary but is in prison. He's been in a long time and no longer has any live bank accounts and passport is expired. Its quite alot of money. No idea when he will be released either.

Does anyone know if I can open an account for him? Have looked at trusts for another beneficiary but not sure that is appropriate and it involves solicitor fees.

Any advice very welcome.

Thank you

You certainly won't find a bank willing to offer him a current account, but it's possible one might be willing to open a savings account - although more likely you will have to do this on a nominee basis. Paying the money into court under sec 63 Trustee Act 1925 is another possibility.

Best idea is to get some proper legal advice as you say it is quite a lot of money.

tacpot12

Your brother would be better off if he gave you a Power of Attorney.   He can make a PoA that operates just for his inheritance, all his other finances could be managed by someone else under a different PoA. 

Dox

tacpot12 said:

Your brother would be better off if he gave you a Power of Attorney.   He can make a PoA that operates just for his inheritance, all his other finances could be managed by someone else under a different PoA. 

Brother might be better off, but I wonder if OP wants that responsibility?

unforeseen

Also something to consider is whether he is locked up for something where the proceeds of crime act kicks in and the authorities can claim it. 

elsien

Can they do that if the money is completely unrelated to the reason the person is in prison? 

Given that it’s to recover money gained from the proceeds of crime which is unlikely with an inheritance.

unforeseen

They probably can as restitution

Malthusian

elsien said:

Can they do that if the money is completely unrelated to the reason the person is in prison?

If I live in a house worth £1 million which I earned or inherited legitimately, and I steal another £1 million which I blow on gambling, fast cars and crack, and I get a Proceeds of Crime order against me, do you think I get to keep my house?

The Government doesn't care where you get the money from to pay a Proceeds of Crime order.