Do I need to do probate?

Kstringer

My dad died end of last year. He had a will written with everything he owed to be split equally 3 ways between his 3 siblings (me my brother and my sister).
My Brother and I are joint executors.
He didn’t own any property (only rented).
He didn't have any debts or owe anyone any money.
He didn’t own any large assets like a car or have anything expensive at his property.
He only had about £35,000 in all his bank accounts and he only banked in one place. 

He was retired and has a private pension and retirement fund that I believe stops as he hasn’t nominated for it to go to anyone. 

Do I need to do probate? 

We have already frozen all his accounts at the bank and they have already said they are happy to pay all monies into a holding savings account in the executor names

I just want to be a hundred percent sure that probate isn’t needed and that once all his money is in a savings account me and my brother can share out equally without the need of probate. 

SVaz

If it’s a personal pension ( i.e a pot of money/investments)  then it will go to the 3 siblings and will likely require probate.  Google the ‘company - pension and probate’ and the info will probably be forthcoming. 

If it’s an annuity or DB pension with a guaranteed income then it will most likely cease but you need to check the paperwork.

My late Father had an annuity and when I informed them of his death,  a letter came stating it had ended. 

Keep_pedalling

Which bank is the cash in? Different banks have differing amounts they will release without probate? 

Kstringer

Keep_pedalling said:

Which bank is the cash in? Different banks have differing amounts they will release without probate? 

It’s nationwide they have already said they will realise the money into a savings account of the executor 

Keep_pedalling

You wont need probate for that amount with NW.