Switching account - ( probate granted)

SiliconChip

Worried_of_wakefield said:

I'm just enquiring if I could wangle an account switching bonus in regards to my recently departed MIL...

Is there going to be a delay before the estate is distributed (e.g. if there is a property to be sold)? if so, then you could make a little extra for the estate by using a current account in your name to hold the estate's funds that are available now, using CASS to switch that to another current account, then adding further estate funds to the new account as they become available before finally doing the distribution. This of course assumes you are an executor for the estate, and if there are other executors it would be sensible to get their agreement to going ahead with this in writing before you start.

eskbanker

SiliconChip said:

Worried_of_wakefield said:

I'm just enquiring if I could wangle an account switching bonus in regards to my recently departed MIL...

Is there going to be a delay before the estate is distributed (e.g. if there is a property to be sold)? if so, then you could make a little extra for the estate by using a current account in your name to hold the estate's funds that are available now, using CASS to switch that to another current account, then adding further estate funds to the new account as they become available before finally doing the distribution. This of course assumes you are an executor for the estate, and if there are other executors it would be sensible to get their agreement to going ahead with this in writing before you start.

I can't see why an executor would use an account in their own name to switch and then pay money from that process back into the estate, even though it wasn't the deceased's asset?  IMHO the best approach would be to entirely forget about trying to link estate distribution and earning switching bonuses!

Zanderman

SiliconChip said:

Worried_of_wakefield said:

I'm just enquiring if I could wangle an account switching bonus in regards to my recently departed MIL...

Is there going to be a delay before the estate is distributed (e.g. if there is a property to be sold)? if so, then you could make a little extra for the estate by using a current account in your name to hold the estate's funds that are available now, using CASS to switch that to another current account, then adding further estate funds to the new account as they become available before finally doing the distribution. This of course assumes you are an executor for the estate, and if there are other executors it would be sensible to get their agreement to going ahead with this in writing before you start.

The question was about using the deceased's accounts (irrespective of the money in them) to switch accounts.  That is clearly not possible.

Your suggestion is that the OP uses their own account(s) to switch, with the deceased's money in them!  But that's just normal switching. It doesn't require income from an estate, or the OP to be an executor.  It would completely unnecessary to involve the deceased's money in that!