How Long Back do you have to provide evidence for the Money Laundering Checks?

mills112

EssexHebridean said:

mills112 said:

EssexHebridean said:

Sounds like in this instance the OP's parents were beneficiaries only - so may never have had copies of the will or grant of probate. regardless, in normal circumstances money dating back 16 years will not require anything further back that a few years statements for the account it has been in. As with the other thread that was referenced - it sounds like the timescale is not the issue here, there is something else raising red flags.  

could they not ask for a copy of the probate from the probate office if the executor no longer has a copy?  something like that would be kept on file with the probate office surely?

The Executor could, certainly. Of course, we have no idea in this situation whether the executor is even still available to make such a request, it's far from impossible that they may not be. 

i wonder if you could ask to see a copy of the probate if you were a beneficiary and showed the probate office the solicitor's letter for the reason of the request?  they could confirm the value of the estate if they can't show all the details.

mills112

monkey-fingers said:

GixerKate said:

Posting on behalf of my parents who are the process of buying a house mortgage free.  They are selling their current house and using some funds that have been sitting in a saving accounts for years to purchase the property.  The funds were mainly inherited when my Grandmother died in 2010.

They have now been asked to provide evidence of my Grandmother's estate from 2010 even though they have already provided years of saving account statements which clearly show the money has been there for years.  

Is this right or are the solicitors being a bit over-zealous?

Did it go through probate? I'm guessing if it's significant amounts, it probably will.
https://www.gov.uk/search-will-probate

Costs £16. 

it should have done i would think as it is to be used to buy an entire house with cash, so that wouldn't be an insiginificant sum.  and that is probably why the solicitors are asking for details as they would know that the probate details should be available.

fistfulofsteel

user1977 said:

I'm sure the banks could find them. 

I tried asking nationwide for statements from every ISA account I've ever held with them, and did receive some confusing print outs of what look like spreadsheets (no official logos or anything) but there are significant gaps when I don't know where the money was.

I've been putting off the purchase because I'm worried about paying conveyancers and then being told no.

Currently the money is in ISAs with rapidly falling interest rates because I'm scared to move it and complicate things further. Interest makes up most of my income so that's not ideal.

GixerKate

Thanks all for your comments and info, very interesting reading.  As someone mentioned, my parents were benefactors of the estate and do not have access to any of the documentation from the estate (executor was my Uncle and lots of family drama there but can say that he insisted on handling the probate himself and did a terrible job).

As someone also mentioned, if my parents had said the source was savings not inheritance it would have avoided the whole issue in the first place.

The response has gone back pushing back on the request so will see what they say.

monkey-fingers

GixerKate said:

Thanks all for your comments and info, very interesting reading.  As someone mentioned, my parents were benefactors of the estate and do not have access to any of the documentation from the estate (executor was my Uncle and lots of family drama there but can say that he insisted on handling the probate himself and did a terrible job).

As someone also mentioned, if my parents had said the source was savings not inheritance it would have avoided the whole issue in the first place.

The response has gone back pushing back on the request so will see what they say.

Did you follow the link given above? Was the Probate not registered?

GixerKate

monkey-fingers said:

GixerKate said:

Thanks all for your comments and info, very interesting reading.  As someone mentioned, my parents were benefactors of the estate and do not have access to any of the documentation from the estate (executor was my Uncle and lots of family drama there but can say that he insisted on handling the probate himself and did a terrible job).

As someone also mentioned, if my parents had said the source was savings not inheritance it would have avoided the whole issue in the first place.

The response has gone back pushing back on the request so will see what they say.

Did you follow the link given above? Was the Probate not registered?

I do not have the details for the advanced search so cannot find anything.