Do I need an Executor bank account?

SVaz

No,  you don’t need it.   We didn’t bother with my Dad’s estate, it was all split between me and my Sister. 

p00hsticks

Devongardener said:

My brothers and I did open an executors bank account when dealing with our mother’s estate.  We were advised to do this to avoid the funds deemed to be part of our personal estates should any of us die during probate (given that we are all over 65,  all with various health issues!).  Also the account value was protected above the £85K limit.

I used to think like this, but it was pointed out to me that although the funds would fall into your personal estate if you died , there would then be a corresponding debt that your estate would owe to the estate of the (previous) deceased. So it has no impact on your net estate.   

So it's not really an issue if an executor puts funds in a personal account rather than an executor account, although obviously it should be a separate account to any others they may have, and they should be maintaining records so that if they did die before completing the distribution of the estate it could be easily picked up by their own executor. 

SacredStephan

Thanks for the replies.

We need to do probate but I wasn't planning to use a solicitor.