Probate and banks â€“ a varied service
It seems that there is no standard provision of service among banks, for those who are looking to settle their deceased loved one’s financial affairs.
A newspaper reported a case whereby a lady had bank accounts with Halifax, Barclays and Nationwide.
After the lady’s death, her executor arrived at Halifax with the necessary documentation, including ID, her will, her death certificate and an invoice for the funeral costs. As this was a relatively small estate, staff quickly and sensitively processed the necessary information, closed the accounts and provided the executor with a balancing cheque.
It was a different story however, at the latter two banks who between them, had to pass the request to a different department, then asked for probate to be produced and a completed authority and personal indemnity form to be sent to them by post, adding considerable delay to what should have been a relatively straightforward procedure.
Carrying out your role as executor can sometimes be more complicated and take a greater length of time then absolutely necessary. In these instances, seeking the help of a knowledgeable and experienced probate practitioner can be helpful. At IWC we will also give you an accurate cost for probate before we undertake any work.