Executors account

Starcrossed500

Our father died last year my sister and I are the beneficiaries and both named as executors in the will.  I have sorted out all the IHT and probate.  The probate is in my name only as my sister did not want to do it.   I’ve been to the bank our father banked with and they have said that both of us have to be on executors account even though they are not on grant of probate.  I also don’t want them on the account as I know where the money needs to go and don’t want it disappearing before everything is wound up.  Firstly do I need an executors account or could I just open a separate bank account and do they have to be on the account ??  I have an accountant who can issue my sister a statement on account once all debts are paid.

Keep_pedalling

You Don’t need a specific executor account, just open a separate account in your own name.

retiredbanker1

The above is technically correct - although if you get a cheque in the name of 'Executor of' then you cannot bank that cheque into your personal account.