notifying banks & Inheritance tax

rolysatch

badmemory said:

Definitely only speak to the bereavement service & you may well not need an executors account especially if the will is straight forward.  Just make sure the money doesn't get mixed up with yours & keep good records.

thanks yes will do, i'll give them a call tomorrow.

Newly_retired

Banks will want to see a death certificate and you can scan this and upload it online. I wans't asked for a copy of the will by my husband's main bank but I was asked by his Co-op savings and NS& I accounts. The latter will release a balance at date of death but need Probate to release money. Co-op wanted a certified copy of the will or Probate. EAch bank has its rules and limits.
When you have got enough information to put the figures in you can start Probate online and when you enter amounts, it will do the calculation and tell you whether it is an excepted estate or not and if you need to complete IHT forms or not. 
Read the Sticky at the top of this board, as it contains lots of information and advice.

rolysatch

Newly_retired said:

Banks will want to see a death certificate and you can scan this and upload it online. I wans't asked for a copy of the will by my husband's main bank but I was asked by his Co-op savings and NS& I accounts. The latter will release a balance at date of death but need Probate to release money. Co-op wanted a certified copy of the will or Probate. EAch bank has its rules and limits.
When you have got enough information to put the figures in you can start Probate online and when you enter amounts, it will do the calculation and tell you whether it is an excepted estate or not and if you need to complete IHT forms or not. 
Read the Sticky at the top of this board, as it contains lots of information and advice.

hi, thank you that's very helpful! And yes i will take a look at the sticky