Amount banks will hold before they require Probate to release funds

CheeseSpreadButties

born_again said:

Usually banks will pay expenses such as funeral costs when presented with the bill. Although it could be a direct payments to the undertaker, as there is a system in place to cover this.

Yes, that's true but that means the executor still has to take invoices to the bank and then they take as long as they please for their administration system to grind through the process of paying the bills.

It's much easier and quicker for everyone concerned if the executor has access to funds to pay the bills directly.

retiredbanker1

CheeseSpreadButties said:

born_again said:

Usually banks will pay expenses such as funeral costs when presented with the bill. Although it could be a direct payments to the undertaker, as there is a system in place to cover this.

Yes, that's true but that means the executor still has to take invoices to the bank and then they take as long as they please for their administration system to grind through the process of paying the bills.

It's much easier and quicker for everyone concerned if the executor has access to funds to pay the bills directly.

The banks now have a way for you to either scan or e-mails the bills to the bereavement team who will either pay bills direct or send you the monies to pay.