Access to money during probate

silvercar

Speak to the school, it won’t be the first time the fee payer has a short term problem.

poppystar

I may be reading this wrong looking at other answers but it sounds as if the death has not occurred yet? If that’s the case and the grandparent does want to continue with the school fees after death then you could consider, if they were willing, having a joint account for the fees going forward as then the mother would have access to the funds because at death the account would become hers in name. Obviously if it was funded totally by the grandparent then for IHT the account should be declared as part of the estate and the contents subtracted from whatever the mother is inheriting once dealing with the estate is completed. 

Foraminiferum

Thanks to all for the further responses!

Keep_pedalling Yes, IHT is also on the list!  They will have to take further advice about house repairs,

Emmia The aim is to continue the private school education, if at all possible.  This is why "prudent provision" is being attempted.

user1977 A further aim is not to cause problems for the school, if at all possible.  They don't have the resources that the electric company (say) has available.

I'm not sure how the school fees billing is being done, but the end result is that the grandparent is paying.

silvercar Yes, asking the school to hang on during the probate period would be possible, but a last resort.

poppystar The Joint Account idea was something which occurred to me also!  I was also thinking that the grandparent could give the parent money to be put into Premium Bonds, which have the merit of being income-tax-free and should provide a small return to mitigate the effects of inflation.  These could be drawn on as and when required.

silvercar

If the grandparent is alive it may be worth discussing with the school now. It must be possible to pay some fees up front, it could be that the school has a scheme where the money is invested as well as drawn down each year for fees. 

SadCodeMan

If the Grandparent(s) are still alive, which I think it sounds like they are, you might possibly want to look at setting up a bare trust for the child? One advantage of that is that the income can fall under the child's allowance which probably isn't being used so would be tax free. (It won't on its own help with any IHT issues but could help with the start of the 7 year gift clock).
The Mother could maybe be (one of) the trustees so be able to arrange payment of the fees. (before any death also)
There would be some costs to setup but they are really very simple (as I understand) and have much less in the way of tax implications compare to other trusts.
One thing to note - Anything left in the trust when the child reaches 18 will revert to them at that point. 

Not necesarily the best but can be good in some cases.

A Google of 'bare trust school fees' gives a reasonable AI summary.

Also if useful.
In no way am I suggesting these are the best but : Handlesbank do (or did) allow bank accounts for bare trusts. Hargreaves Lansdown do/did allow bare trust dealing accounts.

Probably lots more institutions do!

Marcon

Foraminiferum said:

Emmia The aim is to continue the private school education, if at all possible.  This is why "prudent provision" is being attempted.

Then the best idea by far is to take proper professional advice, based on a full understanding of all relevant circumstances - money well spent. Relying on free input from random strangers on the internet, none of whom has the full picture (never mind insurance to give advice), is unlikely to give the best outcome.

Keep_pedalling

It seems the GP is still in the land of the living, so I don’t see why they can’t pay the fees in advance. They could also set up a trust to cover future fees. 

Foraminiferum

silvercar Yes, discussing with the school well in advance of need sounds an excellent strategy.

SadCodeMan I have never considered a bare Trust, largely because I know nothing about them!  I will try to investigate whether the likely benefits outweigh the complexities, and, perhaps, the costs.

Marcon "Then the best idea by far is to take proper professional advice, based on a full understanding of all relevant circumstances - money well spent. Relying on free input from random strangers on the internet, none of whom has the full picture (never mind insurance to give advice), is unlikely to give the best outcome."

I refer you to the start of my first answer:
"It is very refreshing obtaining a variety of views."

If your comment was to be followed in its entirety then MSE might just as well close down the Forums!

Professional advice has its place in life, as does obtaining opinions from multiple other people.  The former will probably follow the latter.

Keep_pedalling Paying all the fees in advance assumes a large pot of cash readily available; most people can the more easily pay termly or monthly.  The trust idea is certainly worth a look.

Thanks again for the comments from everyone!

saajan_12

Any reason why you're 'speaking' in such riddles? It would be much easier to clarify who all the parties are, living or not, how you're related to the situation etc. It completely changes the advice whether the person is alive and can prepare or already passed away, whether its a parent with primary responsibility for the child or not, whether you're directly involved or don't have all the details..