Letter of Authorisation

SilentWhisper

I am so confused.

So yesterday I went to the bank to open an Exector Account (my mum passed away in January), I was told I require a l
Letter of Authorisation in order to open it, even though I am a named executor of the will. There are 2 other people down as named executors (retired Solicitors) a Letter of Declinature is being done to remove these two people.

I do not currently have a solicitor so I have no sort of proper legal advice, I have been researching and I am finding conflicting information online.

The solicitors I have dealing with my Mums Trust Fund, can not write a letter because they are not dealing with the will, and they seemed to think I could write the letter myself 🤷‍♀️

What do I need to do in order to open an Exector Account?

Probate is not required, as that was the other option 

What are my options?

poppystar

Speak to the bank again and ask them exactly what they mean by a Letter of Authorisation. Also are you absolutely sure they didn’t say Letter of Administration? 

SilentWhisper

Yes they could have said Administration 🤦‍♀️
But the question still stands lol

poppystar

Well, no, it’s a different question. Probate is granted where there is a Will and Letters of Administration where there isn’t. So if that was what they said you perhaps need to go back and reiterate that you are not applying for either as it is not needed to release funds or deal with other aspects of the estate. Then ask what the process is under such circumstances - ie. What hoops they now want you to jump. 

Do you actually need an executor’s account? Are there lots of beneficiaries so you need to keep funds separate? Many of us have managed without one, just setting up a separate normal account and ensuring it is clear to others where the funds came from just in case the worse happens to you. Very much hope not! 

Spendless

I thought very few banks nowadays offered Executor accounts (Natwest being an exception)?? Is there a reason you need it to be a specific executor account or would opening up another bank account do in order to keep money separate (this is what my Mum ended up doing after initially putting it into her own bank account and then not being keen on the money left by the deceased becoming muddled up with her own money)  

p00hsticks

SilentWhisper said:

What are my options?

To not open an executor account. 
There is no need for one - just open a separate current account in your own name  and use it to handle all the estate money and keep a record of it. I don't think there is usually any need for a formal executor account.

SilentWhisper

I was opting for an Executor account, because I am currently on UC and didn't want them to think that the money was mine as it would be more than enough to close my claim.

Spendless

Ahhhh ok. So which bank did you ask? Its been mentioned on here before that Natwest still do them, so Id try them if you haven't already. 

SilentWhisper

I went to Barclays because that's who I bank with, but in order to open the account I either needed a Grant of Probate (which I don't need) or a Letter of Administration.
But having mooched on the Internet it says they are only required if you aren't an Executor 🤷‍♀️

This whole thing is a mine field, I seem to be stepping on everyone of them 💣💥 lol 

Olinda99

call the bank and ask to speak to the bereavement team

p00hsticks

Spendless said:

Ahhhh ok. So which bank did you ask? Its been mentioned on here before that Natwest still do them, so Id try them if you haven't already. 

NatWest do, but in my experience you have to start by opening a personal account and can only convert it to an Executor account once you have probate, so not suitable for the OP.