Probate / Will / Executor

peteyh

Hi , Im just about to start going through probate post the death of my father. And while i await for certain information I just wondered if anyone can assist. on some queries.

- Can I access my father's bank  account in the interim to cover any immediate costs , ive just got into debt over the funeral  and it may sounds silly but he owes his gardener etc and money toward the funeral  id like to recuperate the money as I unfortunately do not have excessive amounts of money
- There is myself and my sister as executors - she is not particuarly financially savvy, so has asked if I would perform the relevant tasks alone. Which im happy to do, but, will i need her to sign items or whatever ? As ahe Is named , but can you just work solely alone on the executing our fathers wishes. (I believe even my nephew is an executot, i nee to check again)
- When it comes to selling his property, I believe thats called probate? I'll be out of the country I believe by the time that all occurs, but for piece of mind how that process works. 
a. Who acts as the seller, me the executor? or us 2 or 3 ? We all need to be involved to sign etc or can i alone.
b. If and when i sell is my fathers bank account used to receive the funds and i need some how get access to his old account to perform this? How do the solicitors acting as conveyancers expect to pay the money into on probate? Or is it easier to pay to my account (ie simple ownership and access)
c. Or do I have to pay immediately from sale into the allocated bank accounts of anyone who is a recipient in the will. So advise the conveyancer?
d. Is it easier to use one account ie my fathers, or set up an account in my name to send all the various money into as one pot. and then send out the amounts to each receipient in the will - there are only 4
e Who oversees this to check Ive done if correctly ie its percentages, not that im stupid but so the hmrc check or do i need sign off and proof to a solictor to say YES tick youve done it , completed all correct (only that I read mistakes can mean you get fined? or something And i dont want that!) 
f.If I use my dads bank account and to put all funds in, to then make payments to each recipient does the will need to be given to the bank as ref to make the relevant payments.

Thats all i can think of in my head for now! Prob more to come. Just trying to get my ducks all in a row before im out of the country incase my sister does atleast need send things to differing organisations for me.

thanks all!

RAS

Have you told your dad's bank he is dead?

The funeral director needs to send the bill direct to his bank, who will pay it. 

Best if one person applies as executor and the other "reserves power," in case you pop your clogs.

Most probate applications can be on-line these days, so location isn't such an issue. Paper applications take much longer to progress.

You can't sell a house without probate, but if you can get a standalone bank account into which money from smaller  value savings and bank accounts can be paid covering small debts can be sorted sooner rather than later. Utilities generally expect to be paid after probate is granted. 

But sort out house insurance, remove valuable and sentimental items and meet the insurance requirements, often drain down water and close heating, or heat to a minimum temperature. And arrange visits at required intervals.

I'd suggest timers and lights as well.

Mrs_Z

peteyh said:

Hi , Im just about to start going through probate post the death of my father. And while i await for certain information I just wondered if anyone can assist. on some queries.

- Can I access my father's bank  account in the interim to cover any immediate costs , ive just got into debt over the funeral  and it may sounds silly but he owes his gardener etc and money toward the funeral  id like to recuperate the money as I unfortunately do not have excessive amounts of money

You need to inform the bank that your father has passed away.  At that point, they will freeze the account and no money will be paid in / out (except for funeral expenses).  If he owes money to his gardener, you may wish to pay that out of your own pocket and then claim it back from the Estate (get a receipt).

- There is myself and my sister as executors - she is not particuarly financially savvy, so has asked if I would perform the relevant tasks alone. Which im happy to do, but, will i need her to sign items or whatever ? As ahe Is named , but can you just work solely alone on the executing our fathers wishes. (I believe even my nephew is an executot, i nee to check again)
- When it comes to selling his property, I believe thats called probate? I'll be out of the country I believe by the time that all occurs, but for piece of mind how that process works. 

"Probate" is the legal right to deal with someone's property, money and possessions in other words, their 'estate' when they die. You can market the property but you will not be able to complete the sale until you've got probate (current time scale is around 16 weeks but could be considerably longer if they have queries on your application). If you are in Scotland, then different rules apply.

a. Who acts as the seller, me the executor? or us 2 or 3 ? We all need to be involved to sign etc or can i alone.

You can act as the seller if you are the executor.

b. If and when i sell is my fathers bank account used to receive the funds and i need some how get access to his old account to perform this? How do the solicitors acting as conveyancers expect to pay the money into on probate? Or is it easier to pay to my account (ie simple ownership and access)

It's best to set up a separate account to deal with the moneys for the Estate. Some banks still do Executors of.. accounts, but you can also set up one on your name as the Executor.

c. Or do I have to pay immediately from sale into the allocated bank accounts of anyone who is a recipient in the will. So advise the conveyancer?

I believe the monies from the sale of the house should go to the nominated Estate account - at that point, there might well be many bills to be settled (credit cards, utilities, insurance, etc) before anything can be paid to the beneficiaries.

d. Is it easier to use one account ie my fathers, or set up an account in my name to send all the various money into as one pot. and then send out the amounts to each receipient in the will - there are only 4

Personally, I think the easiest way would be to set up an account on your name. Don't forget to keep track of any payments in/out as the beneficiaries are entitled to see the Estate Accounts once completed.

e Who oversees this to check Ive done if correctly ie its percentages, not that im stupid but so the hmrc check or do i need sign off and proof to a solictor to say YES tick youve done it , completed all correct (only that I read mistakes can mean you get fined? or something And i dont want that!) 

As the executor, it's your duty to complete everything correctly (and seek help if unsure of anything).

f.If I use my dads bank account and to put all funds in, to then make payments to each recipient does the will need to be given to the bank as ref to make the relevant payments.

Once you inform the bank about your dad's passing, you will not be able to use the account, it'll be frozen.
Depending on the bank and the amounts involved, some banks transfer the monies without probate to a nominated account as long as you can prove your executorship. With Halifax, the limit was up to £50,000 without probate.

There is good information on the Government website regarding probate:

https://www.gov.uk/applying-for-probate/apply-for-probate

I would really recommend that you take your time filling in the forms as any query on your application will add weeks to the process which is already long.  In my case it took 5 months, during which time you are in limbo and it's really frustrating if you need to chase it. Remember also that if there is inheritance tax to pay, this I believe needs to be paid before probate is granted for the HMRC to give clearance for the probate.

Thats all i can think of in my head for now! Prob more to come. Just trying to get my ducks all in a row before im out of the country incase my sister does atleast need send things to differing organisations for me.

thanks all!

Sorry for you loss.  Take your time and don't rush into anything.  There is plenty of information on the internet about what to do when a person dies etc.  See my comments in bold above - hopefully they are of some help.

Keep_pedalling

Most banks have quite a high limit they will pay out to the administrator without the need to obtain probate, for instance with Barclays it is £30,000.

if you make an appointment with a local branch, that can normally sort it there and then. You need to bring in the will and proof of your identity. When I did this with my mother’s bank and the money was transferred to me within 24 hours.

Sarahspangles

If you are going to be abroad it may make sense for your sister to also act as Executor in case there is something that requires attendance in person at a bank, or a UK address (if you won’t have one).

In practical terms, when you apply online for probate there’s an electronic process for her to agree the application for probate with yourself as lead contact. She doesn’t actually need to do anything other than click she confirms she is applying. Then in due course you’ll receive a grant of probate with both names on.

You could open an account together for receipts from accounts you close, and from which to pay estate expenses. Eventually the receipt from house sale would go into that account and the estate can then be paid out (settled) from that account.

peteyh

Mrs_Z said:

peteyh said:

Hi , Im just about to start going through probate post the death of my father. And while i await for certain information I just wondered if anyone can assist. on some queries.

- Can I access my father's bank  account in the interim to cover any immediate costs , ive just got into debt over the funeral  and it may sounds silly but he owes his gardener etc and money toward the funeral  id like to recuperate the money as I unfortunately do not have excessive amounts of money

You need to inform the bank that your father has passed away.  At that point, they will freeze the account and no money will be paid in / out (except for funeral expenses).  If he owes money to his gardener, you may wish to pay that out of your own pocket and then claim it back from the Estate (get a receipt).

- There is myself and my sister as executors - she is not particuarly financially savvy, so has asked if I would perform the relevant tasks alone. Which im happy to do, but, will i need her to sign items or whatever ? As ahe Is named , but can you just work solely alone on the executing our fathers wishes. (I believe even my nephew is an executot, i nee to check again)
- When it comes to selling his property, I believe thats called probate? I'll be out of the country I believe by the time that all occurs, but for piece of mind how that process works. 

"Probate" is the legal right to deal with someone's property, money and possessions in other words, their 'estate' when they die. You can market the property but you will not be able to complete the sale until you've got probate (current time scale is around 16 weeks but could be considerably longer if they have queries on your application). If you are in Scotland, then different rules apply.

a. Who acts as the seller, me the executor? or us 2 or 3 ? We all need to be involved to sign etc or can i alone.

You can act as the seller if you are the executor.

b. If and when i sell is my fathers bank account used to receive the funds and i need some how get access to his old account to perform this? How do the solicitors acting as conveyancers expect to pay the money into on probate? Or is it easier to pay to my account (ie simple ownership and access)

It's best to set up a separate account to deal with the moneys for the Estate. Some banks still do Executors of.. accounts, but you can also set up one on your name as the Executor.

c. Or do I have to pay immediately from sale into the allocated bank accounts of anyone who is a recipient in the will. So advise the conveyancer?

I believe the monies from the sale of the house should go to the nominated Estate account - at that point, there might well be many bills to be settled (credit cards, utilities, insurance, etc) before anything can be paid to the beneficiaries.

d. Is it easier to use one account ie my fathers, or set up an account in my name to send all the various money into as one pot. and then send out the amounts to each receipient in the will - there are only 4

Personally, I think the easiest way would be to set up an account on your name. Don't forget to keep track of any payments in/out as the beneficiaries are entitled to see the Estate Accounts once completed.

e Who oversees this to check Ive done if correctly ie its percentages, not that im stupid but so the hmrc check or do i need sign off and proof to a solictor to say YES tick youve done it , completed all correct (only that I read mistakes can mean you get fined? or something And i dont want that!) 

As the executor, it's your duty to complete everything correctly (and seek help if unsure of anything).

f.If I use my dads bank account and to put all funds in, to then make payments to each recipient does the will need to be given to the bank as ref to make the relevant payments.

Once you inform the bank about your dad's passing, you will not be able to use the account, it'll be frozen.
Depending on the bank and the amounts involved, some banks transfer the monies without probate to a nominated account as long as you can prove your executorship. With Halifax, the limit was up to £50,000 without probate.

There is good information on the Government website regarding probate:

https://www.gov.uk/applying-for-probate/apply-for-probate

I would really recommend that you take your time filling in the forms as any query on your application will add weeks to the process which is already long.  In my case it took 5 months, during which time you are in limbo and it's really frustrating if you need to chase it. Remember also that if there is inheritance tax to pay, this I believe needs to be paid before probate is granted for the HMRC to give clearance for the probate.

Thats all i can think of in my head for now! Prob more to come. Just trying to get my ducks all in a row before im out of the country incase my sister does atleast need send things to differing organisations for me.

thanks all!

Sorry for you loss.  Take your time and don't rush into anything.  There is plenty of information on the internet about what to do when a person dies etc.  See my comments in bold above - hopefully they are of some help.

Thanks so so much all very insightful! And to all other's very kind of you take the time.

-So I'm gleaming easier to set up a bank account in my name (maybe simply with my current bank for ease of setting up, online access etc)
- Suggestion is that X amount can be transferred immediately to me (someone said 24 hours) prior to probate - with proof of will and obviously proof im me i guess.
- So in terms of making payments to beneficeries I just need to make sure I'm maticulous with every step. Yet i did read about final accounts showing all the payments etc Listed. Do I need to publish them anywhere or do I simply make sure they are done. (there are only four of us its very simple cash and property thats really it) so do i need to create this accounts package I was just going to give the percentages to all and end there!?
- I had a look at the form and it looks horrendous.. so open to error!
- So on going bills say for gas electric etc will they be stopped from his account and ill need to re-set up to my account i create?- Im going to the bank next week to advise them
- How do you pay inheritance tax in advance of probate being completed? I havent done the maths but say he left £100 but has a million pound house, there isnt the money to pay the inheritance tax on the house with the lack of spare money!?

thanks again

Sarahspangles

So in terms of making payments to beneficeries I just need to make sure I'm maticulous with every step. Yet i did read about final accounts showing all the payments etc Listed. Do I need to publish them anywhere or do I simply make sure they are done. (there are only four of us its very simple cash and property thats really it) so do i need to create this accounts package I was just going to give the percentages to all and end there!?

- I had a look at the form and it looks horrendous.. so open to error!

- So on going bills say for gas electric etc will they be stopped from his account and ill need to re-set up to my account i create?- Im going to the bank next week to advise them

I used the guidance here for the estate accounts, if you set up a simple spreadsheet and update as you go along you won’t miss anything. It’s easy, if you’re the one doing the legwork, to pay for stuff from your own pocket and end up out of pocket rather than splitting the estate costs three or four ways. Another reason it’s good to have a separate account and put everything through that. Also, keep receipts!

https://www.co-oplegalservices.co.uk/media-centre/articles-sept-dec-2018/what-are-estate-accounts/

The application for probate is simple, top tip is to complete the Inheritance Tax Checker and keep a copy as the numbers it generates get transposed into the application.

With utilities, ask to be out through to the bereavement team. Generally you settle the bill/recover credit due at the point the person passed away, that goes into the Executors account. Then tell them the estate will need to pay for the costs while the property is vacant only when the property is sold. 

msb1234

With regards to your father’s will, you will need copies that have to be certified in a particular way. The bank (and some other agencies) will need to see either the original will or a certified copy. If you’re going to get photocopies of the will, make sure you copy all pages and if the will has staples / fastenings do NOT remove these before copying. The Probate office will need to original will and dont like it if staples / fastenings have been removed.
Regarding utility companies, phone them up, ask for the bereavement dept and take it from there. You wont be expected to transfer the accounts to your name, they will wait for any money owning until the house is sold. Ive been doing this for almost 18 months and I just get a phone call off the debtors every couple of months.

p00hsticks

peteyh said:

- So on going bills say for gas electric etc will they be stopped from his account and ill need to re-set up to my account i create?- Im going to the bank next week to advise them

There are a couple of ways of doing it. As msb1234 says, most big companies have Bereavement departments and it's these you need to look for and speak to as they have the specific training to take you through what is needed. If the house is now empty and the plan is to sell it as soon as you are able, most utility companies will be happy to simply put the account on hold until the house is sold at which point you can settle a final bill.

Alternatively you may prefer to have the accounts switched into your name and continue paying the bills as they arrive, either using money available to you from the estate or your own money for which you will later get reimbursed when the house is sold - just make sure you keep records of what is spent and where the money comes from.      

(If the house is still lived in then you should arrange for the bills to be paid up to the point of death and they should then be switched into the remaining occupants name). 

The key thing you can't put off if the property is empty is the house insurance. You need to remove any valuables from the property and let the insurers know that the house is now empty. In my experience the current house insurers will usually agree to continue the insurance, at least until the renewal date, but they are likely to impose conditions such as ensuring water is turned off, the proeprty is inspected regularly etc....

peteyh said:

- How do you pay inheritance tax in advance of probate being completed? I havent done the maths but say he left £100 but has a million pound house, there isnt the money to pay the inheritance tax on the house with the lack of spare money!?

Are you sure that IHT is likely to be due ? 
If your father was widowed and your mother left everything to him, and the house is now being left to direct decendants, the estate could be worth £1million before any IHT needs to be paid. If paying it is an issue, then HMRC will accept payments in installments although the charge interest for doing so. 

But I'd suggest that worrying about IHT is some distance in the future. For now, take your time and concentrate on dealing with the banks, utility companies and house insurance, and starting to gather together the info you need for the probate application. 

peteyh

Fantastic help, I'll be getting onto the banks /utilities I didn't realise things are simply put on hold that's a relief, just so many less financial elements to not be concerned about as of yet. Invaluable Infor

Spresdsheet idea good.for accounts for own peace of mind, but do i need publish this anywhere? Ie sent to hmrc? Or can I just keep A Spresdsheet for my own record. 

One thing why do thr banks need the will I assumed they would only care about the death certificate.? Or is jt to prove I'm the executor? 

I'm. Not too worried abiut iht yet but just trying to get my head around if I will have to complete some form of. iht form for the hmrc at some point after the probate form? 

I thought anything over 325k was liable for taxation (at what percent) someone told Me? And If so does that need to be paid to hmrc before probate is completed /provided? That was my major concern is in pre estimating to wonder how I pay that amount anytime soon before house sale?

Great help. All. Thanks again 

Keep_pedalling

peteyh said:

Fantastic help, I'll be getting onto the banks /utilities I didn't realise things are simply put on hold that's a relief, just so many less financial elements to not be concerned about as of yet. Invaluable Infor

Spresdsheet idea good.for accounts for own peace of mind, but do i need publish this anywhere? Ie sent to hmrc? Or can I just keep A Spresdsheet for my own record. 

One thing why do thr banks need the will I assumed they would only care about the death certificate.? Or is jt to prove I'm the executor? 

If there is a will they will want to see it to show that you are appointed as the executor

I'm. Not too worried abiut iht yet but just trying to get my head around if I will have to complete some form of. iht form for the hmrc at some point after the probate form? 

I thought anything over 325k was liable for taxation (at what percent) someone told Me? And If so does that need to be paid to hmrc before probate is completed /provided? That was my major concern is in pre estimating to wonder how I pay that amount anytime soon before house sale?

Great help. All. Thanks again 

£325k is the basic NRB, but if your father was a home owner then the residential NRB can take that up to £500k. Also if he was a widower then any unused NRB from his wife can double that to £1M.