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  • FIRST POST
    • Hinge123
    • By Hinge123 9th Jan 18, 2:29 PM
    • 4Posts
    • 0Thanks
    Hinge123
    Only recently found out about inheritance
    • #1
    • 9th Jan 18, 2:29 PM
    Only recently found out about inheritance 9th Jan 18 at 2:29 PM
    Hello, I received a letter recently from a bank stating I had been left £500 from my grandfathers will, he past away 15 years ago. All of the money was paid out 15 years ago as the bank didnít say they had a will. Only Recently a will was found by the bank stating as a grandchild I should inherit £500. As all the money was paid out to other relatives the bank has said as itís their mistake they will honour the £500 plus interest. To get the money I have to sign a form saying this will settle any claims and close the case. Does this seem fair?
Page 1
    • Browntoa
    • By Browntoa 9th Jan 18, 2:31 PM
    • 33,198 Posts
    • 39,142 Thanks
    Browntoa
    • #2
    • 9th Jan 18, 2:31 PM
    • #2
    • 9th Jan 18, 2:31 PM
    Seems fair
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    • Loanranger
    • By Loanranger 9th Jan 18, 2:32 PM
    • 2,112 Posts
    • 5,546 Thanks
    Loanranger
    • #3
    • 9th Jan 18, 2:32 PM
    • #3
    • 9th Jan 18, 2:32 PM
    If your grandad passed away last week you would get 500 pounds. You will get 500 pounds so yes it's fair. Actually more than fair as you will get interest, too
    • pollypenny
    • By pollypenny 9th Jan 18, 3:12 PM
    • 24,049 Posts
    • 62,671 Thanks
    pollypenny
    • #4
    • 9th Jan 18, 3:12 PM
    • #4
    • 9th Jan 18, 3:12 PM
    Yes, of course. What else would you expect?
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
    • Yorkshireman99
    • By Yorkshireman99 9th Jan 18, 3:30 PM
    • 4,246 Posts
    • 3,469 Thanks
    Yorkshireman99
    • #5
    • 9th Jan 18, 3:30 PM
    • #5
    • 9th Jan 18, 3:30 PM
    Hello, I received a letter recently from a bank stating I had been left £500 from my grandfathers will, he past away 15 years ago. All of the money was paid out 15 years ago as the bank didnít say they had a will. Only Recently a will was found by the bank stating as a grandchild I should inherit £500. As all the money was paid out to other relatives the bank has said as itís their mistake they will honour the £500 plus interest. To get the money I have to sign a form saying this will settle any claims and close the case. Does this seem fair?
    Originally posted by Hinge123
    What are the bank offering to the other beneficiaries? Presumably the estate was treated as intestate. It is fair for them to pay you but they may owe others as well.
    • Hinge123
    • By Hinge123 9th Jan 18, 3:58 PM
    • 4 Posts
    • 0 Thanks
    Hinge123
    • #6
    • 9th Jan 18, 3:58 PM
    • #6
    • 9th Jan 18, 3:58 PM
    Everyone has been offered the same.
    • McKneff
    • By McKneff 9th Jan 18, 4:30 PM
    • 36,037 Posts
    • 46,445 Thanks
    McKneff
    • #7
    • 9th Jan 18, 4:30 PM
    • #7
    • 9th Jan 18, 4:30 PM
    I struggle to see why you need to ask if its fair.

    If you had got the money years ago it would bre well gone by now so now youve got extra as in interest... Enjoy
    Last edited by McKneff; 10-01-2018 at 10:27 AM.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • Keep pedalling
    • By Keep pedalling 9th Jan 18, 4:40 PM
    • 5,095 Posts
    • 5,681 Thanks
    Keep pedalling
    • #8
    • 9th Jan 18, 4:40 PM
    • #8
    • 9th Jan 18, 4:40 PM
    How much interest was paid? I believe the standard where banks have made mistakes is 8% simple interest. so after 15 years your £500 should be about £1,100 now
    • Margot123
    • By Margot123 9th Jan 18, 4:42 PM
    • 843 Posts
    • 868 Thanks
    Margot123
    • #9
    • 9th Jan 18, 4:42 PM
    • #9
    • 9th Jan 18, 4:42 PM
    Late Xmas present with interest, not to be sneezed at
    • Francesanne
    • By Francesanne 9th Jan 18, 5:02 PM
    • 1,996 Posts
    • 2,079 Thanks
    Francesanne
    What a lovely surprise! How nice to get an unexpected windfall.
    • konark
    • By konark 11th Jan 18, 11:32 PM
    • 1,009 Posts
    • 776 Thanks
    konark
    Never look a gift horse in the mouth. Ave it!
    • -taff
    • By -taff 12th Jan 18, 8:44 PM
    • 7,420 Posts
    • 5,493 Thanks
    -taff
    Since when do banks hold wills?
    This doesn't make sense.
    • Lorian
    • By Lorian 12th Jan 18, 8:54 PM
    • 4,358 Posts
    • 2,478 Thanks
    Lorian
    They used to. I had a relative who's will was with the TSB for years.

    Its a nice surprise, but I'd still want to see the will, presumably the OP has.
    • Keep pedalling
    • By Keep pedalling 12th Jan 18, 8:57 PM
    • 5,095 Posts
    • 5,681 Thanks
    Keep pedalling
    Since when do banks hold wills?
    This doesn't make sense.
    Originally posted by -taff
    Banks certainly used to provide wills and probate services, and would charge an arm and a leg for it as well.
    • jackyann
    • By jackyann 12th Jan 18, 9:01 PM
    • 3,335 Posts
    • 7,903 Thanks
    jackyann
    Yes, our first 'proper' will made in 1980, was lodged with our bank. It was not uncommon either, for them to offer an 'address' for people who had no fixed abode. Sounds odd nowadays, but when I first began nursing (1969) you still came across people who lived with relatives, or in 'boarding houses' and would use their bank for their 'affairs' (business, not flings!)
    • Yorkshireman99
    • By Yorkshireman99 12th Jan 18, 9:38 PM
    • 4,246 Posts
    • 3,469 Thanks
    Yorkshireman99
    They often do particularly if they are the executor. Under no circumstances appoint a bank as executor. They will charge their own fee and then outsource the job to a solicitor.
    • dunroving
    • By dunroving 15th Jan 18, 6:09 PM
    • 1,260 Posts
    • 873 Thanks
    dunroving
    I can't see any reason to interpret it as anything but fair, unless you have good reason to think that there was some deliberate underhandedness at the time. Take the money and be happy with it.

    I recently found out that I was a beneficiary in a will from 1997, to the tune of several thousand pounds. Only thing is that the sole executor (the son of the deceased) kept the money for himself. I'd rather be in your position, so would be willing to swap situations if you're not happy.
    (Nearly) dunroving
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