Advice on a Joint Bank Account following a Death
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Posts: 3 Newbie
Hello, sadly my Mother recently passed away and my Dad is busy with all the stuff one has to do when this happens, obviously he is upset, but one of the things he is worried about is their Joint Bank Account.
Its is an account they have held for many years with Smile (opened when it used to be the Cooperative Bank) and he really doesn't want to remove her name from it because he feels he will be eradicating her from his life. Am I correct that it is something that he will just have to do regardless of emotion, or is there a way he can keep Mums name on the account?
Its is an account they have held for many years with Smile (opened when it used to be the Cooperative Bank) and he really doesn't want to remove her name from it because he feels he will be eradicating her from his life. Am I correct that it is something that he will just have to do regardless of emotion, or is there a way he can keep Mums name on the account?
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If Smile are never informed then they will never know BUT when the time comes when dad dies too - then the next of kin will have to register both deaths before accessing any funds.
As far as I am aware there is no legal obligation to report a death to a bank as long as no fraud takes place (eg still claiming her pension etc).
Give it a few months and broach the subject again then?0 -
jonesMUFCforever wrote: »If Smile are never informed then they will never know BUT when the time comes when dad dies too - then the next of kin will have to register both deaths before accessing any funds.
As far as I am aware there is no legal obligation to report a death to a bank as long as no fraud takes place (eg still claiming her pension etc).
Give it a few months and broach the subject again then?
I'm 100% certain hes not planning on doing anything fraudulent, he is in the process of collecting her Death Certificate and registering her Death, if the Bank doesn't need to know, that might prevent more emotional trauma for him, which is all I want0 -
Eh?
Your father has an obligation to keep the bank informed of any changes to his personal circumstances. Keeping the death of a joint account holder hushed up would certainly qualify, and in fact could be viewed as rather suspicious if he maintains silence much longer than the initial grieving period.
My condolences to you and your father but there are several organisations who need to be informed of a death, including the bank. The initial informant needn't necessarily be the surviving party though, i.e. you could approach the bank with your mother's death certificate initially if your father can't bear it.: )0 -
Flobberchops wrote: »Eh?
Your father has an obligation to keep the bank informed of any changes to his personal circumstances. Keeping the death of a joint account holder hushed up would certainly qualify, and in fact could be viewed as rather suspicious if he maintains silence much longer than the initial grieving period.
My condolences to you and your father but there are several organisations who need to be informed of a death, including the bank. The initial informant needn't necessarily be the surviving party though, i.e. you could approach the bank with your mother's death certificate initially if your father can't bear it.
That makes sense, I assume he won't be allowed to keep her name on the Joint account?0 -
That makes sense, I assume he won't be allowed to keep her name on the Joint account?
No, because she's no longer an account holder. On being informed of the death, she'll cease to be a participant on any joint accounts so in this case the account and its balance will revert to being sole control of your father. Keeping her name on the account for posterity would make no sense from the bank's technical and legal point of view.: )0 -
There's a Co-op page about this (linked from Smile) at https://www.co-operativebank.co.uk/lifemoments/when-somebody-dies, including a link to contact their specialist bereavement team, who are available to discuss such matters sympathetically and sensitively, as they'll be very familiar not just with their process but what the bereaved are going through....0
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That makes sense, I assume he won't be allowed to keep her name on the Joint account?
I am not certain weather Co-Op allows this or not, but he might be able to name the account after her. What I mean is that currently banks allow you to choose name for your account, e.g. "bills", "holiday fund", "car expenses", etc, so he might be able to give the account name which would remind him of her. "Julie 28-10-1970" or whenever is significant to him.0 -
I am not certain weather Co-Op allows this or not, but he might be able to name the account after her. What I mean is that currently banks allow you to choose name for your account, e.g. "bills", "holiday fund", "car expenses", etc, so he might be able to give the account name which would remind him of her. "Julie 28-10-1970" or whenever is significant to him.
You're referring to an account nickname, which several banks allow, but these nicknames only show up on internet banking, or mobile apps, they don't change the official name on the account. I have these nicknames on Halifax, TSB, Nationwide and Barclays accounts but, whilst my chosen names are displayed online, my debit cards etc. only show my real name.0 -
The bank will get a flag from Credit reference about the deathDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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My husband died years ago and my accounts still in joint nameLove living in a village in the country side0
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