How quickly can spouse get control of bank accounts after death?

Parkhall

I want my wife to be able to get control of my bank accounts as quickly as possible when I die. She has no income and so will need access to my accounts ASAP. I have not made a will because we have no children or others. 

Roughly how long does it take for the process? Would it be any quicker if I made a will?

born_again

Would be better making it a joint account, which would allow her to use the account with no issues. Or if you do not want to do that. Get her to open a account which they can have funds in to tide them over.

Sole account. She would need a death cert, & some councils can take a while to process. Then how long the bank take to process.

Marcon

Parkhall said:

I want my wife to be able to get control of my bank accounts as quickly as possible when I die. She has no income and so will need access to my accounts ASAP. I have not made a will because we have no children or others. 

Roughly how long does it take for the process? Would it be any quicker if I made a will?

A lot of things would be a lot simpler if you made a will. Saying you haven't made one because you have no children or others could really gum up the works. Forgive the doom mongering, but if you die in the same car crash.... 

If they're joint accounts, rather than just 'your' bank accounts, that should also make life (or sadly your death) easier for her.

Parkhall

born_again said:

Would be better making it a joint account, which would allow her to use the account with no issues. Or if you do not want to do that. Get her to open a account which they can have funds in to tide them over.

Sole account. She would need a death cert, & some councils can take a while to process. Then how long the bank take to process.

I've just been enquiring about a joint account with my bank but there is so much rigmarole involved  . . . 

RAS

The will may not be an issue if your estate is valued at less than £322k?

Your wife may not need probate to access accounts if the value in each is less than the bank's limit (can be £5-50k).

How does she access money now when she needs it? A second card on an account in your name?

SVaz

Just make them into joint accounts now and make sure she’s all set up with log in details. 

If you have lone savings accounts/ investments/ pensions then not having a will means it will take a long time for her to get letters of administration in order to access the accounts.  It’s currently taking 6-9 months. 

Parkhall

RAS said:

The will may not be an issue if your estate is valued at less than £322k?

Your wife may not need probate to access accounts if the value in each is less than the bank's limit (can be £5-50k).

How does she access money now when she needs it? A second card on an account in your name?

We just share my card.

SVaz

Do you have Life insurance that’s written in trust with her as beneficiary?  

RAS

Not sure what's taking 6-9 months, but on-line probate is taking 3 weeks and paper applications less than 16 weeks.

SVaz

It’s obviously improved in the last year or so then!
3 weeks is still a long time with no source of income though.   Even death certificates take a few days to arrive, assuming a bank will release funds to a spouse with only a death cert.  

Parkhall

SVaz said:

Do you have Life insurance that’s written in trust with her as beneficiary?  

No life insurance.