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Probate required to get my deceased husband's premium bond money
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CarolHircock
Posts: 1 Newbie
When someone dies, even leaving a will, NSandI will not pay out if the amount in premium bonds is over £5000 until grant of probate has been given. This can cost at least £700+ I have made inquiries at bank and building society and their amounts requiring probate is well in excess of £5000.
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Same when my dad died. All other money was in joint accounts with my mum, but he had £15000 with ns&i in his own name so we needed probate.0
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The fee for obtaining a Grant of Probate (in England) is £215 and easily done without the need for a solicitor.#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3663
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As executor of the will. Holding probate will make life far easier for you.0
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It can get complicated where a property or significant estate is involved. Then you have to pay the inheritance tax first before probate is granted; difficult when you can't access the deceased's cash.
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JGB1955 said:The fee for obtaining a Grant of Probate (in England) is £215 and easily done without the need for a solicitor.
FYI Tesco bank required not only probate, but a copy of the will and a letter signed by the other 3 executors who did not get involved in probate, including one overseas - all for about £2000.0 -
CarolHircock said:When someone dies, even leaving a will, NSandI will not pay out if the amount in premium bonds is over £5000 until grant of probate has been given. This can cost at least £700+ I have made inquiries at bank and building society and their amounts requiring probate is well in excess of £5000.
The real pain is that if you have multiple providers/accounts and one requires probate then you are required to provide it for all of them. As most want the embossed original to be seen, this means it goes back and forth with each provider.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
dunstonh said:CarolHircock said:When someone dies, even leaving a will, NSandI will not pay out if the amount in premium bonds is over £5000 until grant of probate has been given. This can cost at least £700+ I have made inquiries at bank and building society and their amounts requiring probate is well in excess of £5000.
The real pain is that if you have multiple providers/accounts and one requires probate then you are required to provide it for all of them. As most want the embossed original to be seen, this means it goes back and forth with each provider.1 -
'As most want the embossed original to be seen'
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EdGasketTheSecond said:'As most want the embossed original to be seen'1
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