Loved ones facing increasing difficulties when dealing with deceased’s bank

Published: 28/06/2013

Dealing with a loved one’s estate after they have passed away is never an easy task. However many executors are finding it increasingly difficult as banks refuse to cooperate, according to comments in a recent Trust Discussion Forum.

In one case a bank refused to provide the relevant information despite the executor providing them with a copy of the death certificate while another executor was told a Death Verification Form (DVF) was no longer acceptable and the original death certificate was required.

Notifying the bank and/or building society of a death is just one of the many things an executor of a Will must do.

Others include:

  • Collecting all the appropriate papers (e.g. bank statements, bills and share certificates)
  • Establishing the value of the estate, organising valuations where appropriate
  • Paying any Inheritance Tax (IHT) to H.M. Revenue and Customs
  • Applying for the Grant of Representation
  • Notifying all other the necessary authorities such as:
    H.M. Revenue and Customs
    The Department of Work and Pensions
  • Settling all outstanding debts.

Only then will they be able to divide the estate between named beneficiaries (or under the rules of intestacy if there is no will).

Often a slow and lengthy process, Probate and Estate Administration comes at one of the worst times of our lives.

Goldsmith Williams, however, can help lift the burden of probate and deal with any headaches or red tape such as the above examples, leaving you to grieve and spend time with the people that matter.

Content correct at time of publication

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