Probate: How to treat large cash withdrawal within last 7yrs of death?

yellowpot21

Hi I am executor for my late father and am going through last 7yrs of his bank statements to see if he made any gifts that need to be declared.  During this period from a joint account he held with my Mum there are 2 cash withdrawals of £10,000 (on consecutive days) and I don't know what they were for.  I've spoken with Nationwide and they have 'investigated' and have been unable to provide me with any details - i.e. which branch and who made the withdrawal. Mum doesn't know what they were for and can't think why he would have taken this money out in cash. 

This is unusual activity of the account. It could possibly have been to pay for a new kitchen/work on the flat. He did not gift the money to any of his family. I do not know what he used the money for.  What do I need to declare for probate?  How much more effort do I need to put into trying to work out what he did with the money?

If it were a scam I feel the money is lost.  I am not looking to go down that route just trying to work out the probate situation.

Many thanks

IanManc

You have made enquiries which have resulted in no evidence that the money was used for a gift. You do however have a plausible explanation for how it may have been spent.

People are entitled to take money out of their account and spend it on a kitchen or anything else, though I wouldn't pay for a kitchen that way and probably neither would you. 

As an executor you appear to have exhausted any lines of enquiry and as there is no evidence of any gift being given I would forget about it. 

yellowpot21

Thank you for your response.  I'm inclined to agree!  Surprising that Nationwide doesn't have records of where large cash withdrawals are made but I have a letter from them saying they cant help any further so I guess I've done my bit as Executor.

southone

Two withdrawals of 10K total 20K which just happens to be the limit that you can put into an ISA have you checked that there's not a ISA lurking somewhere

retiredbanker1

Do you know who worked on the kitchen - could you ask them?
They may not be able/willing to help but you could ask?

boingy

Those are unusual transactions but unless there is any evidence that the money was gifted to someone you can safely ignore them for probate purposes.

Of course, you'll stay curious about them forever! 

lisyloo

southone said:

Two withdrawals of 10K total 20K which just happens to be the limit that you can put into an ISA have you checked that there's not a ISA lurking somewhere

In cash??… I’ve always found it safer to transfer my money online than walk the streets with wads of cash.

yellowpot21

I don't want to dig too deeply. I may find I have some unknown half siblings out there!  But yes can't think what my 80+ dad was doing with this amount of cash on him.  I will try the kitchen place see if they remember. Thank you for all replies

Section62

yellowpot21 said:

I don't want to dig too deeply. I may find I have some unknown half siblings out there!  But yes can't think what my 80+ dad was doing with this amount of cash on him.  I will try the kitchen place see if they remember. Thank you for all replies

You've checked all the mattresses? And similar places around the flat that cash could be stashed away?

How long ago was it?  In the depths of the pandemic some people were worried about the end of civilisation and/or the whole 'Great Reset' stuff.  I know some older people who decided to hold largish amounts of cash at home "just in case".  Does the timing and/or your father's views on the banking system generally give you any reason to think he could possibly have taken the cash out just to have an emergency supply?

lisyloo

It sounds most likely that it was "cash in hand" to workmen if there was work done around that time.
If work was paid for normally I'd expect to find a batch of guarantees for things like a cooker, fridge etc. and a receipt amongst the household paperwork.

Do you have no paperwork for the kitchen or other work?
Does it look like about £20K worth?
Sounds like the most feasible explanation to me.
It's not uncommon for people to suggest a discount for cash.

Nasqueron

Section62 said:

yellowpot21 said:

I don't want to dig too deeply. I may find I have some unknown half siblings out there!  But yes can't think what my 80+ dad was doing with this amount of cash on him.  I will try the kitchen place see if they remember. Thank you for all replies

You've checked all the mattresses? And similar places around the flat that cash could be stashed away?

How long ago was it?  In the depths of the pandemic some people were worried about the end of civilisation and/or the whole 'Great Reset' stuff.  I know some older people who decided to hold largish amounts of cash at home "just in case".  Does the timing and/or your father's views on the banking system generally give you any reason to think he could possibly have taken the cash out just to have an emergency supply?

Great Reset was a conspiracy about killing off billions to reduce the world population, having cash at home is the least of your problems if the men in black are rounding people up! It was also an internet thing, not the sort of thing your typical person, pensioner or otherwise would be talking about to the extent they'd actually want to take out cash