Do executors with powers reserved need to sign stuff?

waveyjane

I'm going to be applying for probate, and have written to the other two executors suggesting they reserve powers (and they've acknowleged that to me).

The forms sent to me by banks usually want all executors to sign them though. If the others have reserved powers, can I just ignore that and sign myself only? 

kuratowski

I think that reserving powers is a concept that only applies to probate.  If banks and insurers are going to release funds without a grant, then they are usually also asking to see the will, which names all executors, so I think to be on the safe side everyone named as an executor in the will needs to sign?

I would be happy to be wrong.

elsien

According to this link, the probate grant will refer to executors having powers reserved. It suggests that when sending letters off after probate, you specifically reference the powers being reserved to avoid the recipient requesting  signatures of everyone all the executors. Which would defeat the object of the powers being reserved in the first place.

https://death-duties.co.uk/executors-and-administrators/

kuratowski

I was probably unclear; I meant that if they are dealing with banks who are prepared to release funds without a grant, and before probate has been granted, then I think reservation of powers doesn't yet apply.

waveyjane

Thanks - but I'm still a bit unclear. 

For example, I have one bank so far who have responded to the notice of death with forms which say that they will need to see the "original grant of probate", and also enclose a form asking for the names, addresses and signatures from each executor so that their identies can be verified (they say). 

I have another bank that does not appear to want the probate document, but does seem to want executor details to verify their identity.

Having reassured my co-executors that they would not need to sign stuff if they acknowledged their powers reserved, I don't want to start bothering them with it!

PS: I should add that I've not actually applied for probate yet, just looking a the documents that have come back from the banks.

kuratowski

I would say that, before probate is granted, your legal authority to administer the estate is granted by the will, which names all executors, and at this point reservation of powers has not yet taken place.  So, banks have a right (if they insist) to get signatures from all executors named in the will.  (But they may not: for instance, HSBC's personal representative closure form permits one executor to sign alone.)

After probate is granted, it gives legal authority to administer the estate to just the people who are named in the grant.  So, after this point, you can start to act alone.

However this is a lay opinion, and I'm just going through the process same as you.

waveyjane

Oh well - I can ping the executors and let them know that maybe they might have to start passing paper about in the post to each other sometimes. Maybe if I call the banks concerned and ask if they really need it though.

Toucan13

I'm an executor and my fellow executor has powers reserved.  When I applied for probate I stated this and the grant names me in full and then just notes that another unnamed executor has power reserved.  I have now dealt with most organisations who have seen an original probate grant (I ordered several copies when I applied so I could send to several places at the same time) - they asked for proof of identity from me and then accepted just my signature to pay out on various accounts.  My fellow executor has not been asked to sign anything so far.

I have of course kept him informed at each stage and sent a progress report as I've gone along.

BooJewels

My own personal and recent experience would suggest that it depends - on various factors - including the amount of funds concerned. 

For example, I've just had a settlement from one bank where the balance was actually above the Probate-required threshold they'd already told me, which was a bit of a surprise. During one conversation, after they'd sent me a printed version of the data I'd filled in online, for a wet ink signature, I asked if both executors needed to sign, as there was space for several. He said that they only ask all execs to sign if the balance is more than £50k.  Less than that, they were happy with one signature.

So I suspect you will find out on a per account basis - much the same as Probate being required is more flexible than is sometimes suggested.  A lot seems to be somewhat discretionary and circumstance specific.

Mojisola

waveyjane said:

Having reassured my co-executors that they would not need to sign stuff if they acknowledged their powers reserved, I don't want to start bothering them with it!

PS: I should add that I've not actually applied for probate yet, just looking a the documents that have come back from the banks.

My OH reserved executor powers and I got probate in my name.  He didn't have to sign anything once I'd got probate.
If you're going to get probate, wait for that and then only you will need to sign paperwork.