Mum's death, Only child, Will reading...

[phillipa.d]

Hi All,

Hope someone can help with this question.

My Nan died last week after a short illness; she was my Mum's Mum. My Mum is an only child. My Mum has been second signatory on her bank and building society accounts, and has looked after Nan's money for a good few years now.

Nan did leave a will, which states that everything is to be left to my Mum.

My question (well, Mum's really) is does she have to bother to have the will read? There is no-one who would contest it, and there is only just enough left to pay for the funeral anyway. My Mum was wondering if she can go and draw the money from the bank and building society accounts legally now Nan has died; the money would be to pay the Funeral Directors.

It would be helpful if we could save the cost of the Solicitors' fees, you see.

Hope you can help. Thanks very much in advance.

Pip

[phillipa.d]

Also, Nan lived in a home; she sold her house many years ago, so there is no question regarding inheritance of property.

TIA

P

xx

[Barmaid]

There is no such thing as a reading of the Will. This happens only in films. The normal procedure is to apply for probate.

However, if the net estate value is less than �5,000, you can administer the estate without a Grant of Probate. Under the Administration of Estates (Small Payments) Act 1965, assets that are held in a bank or building society can be paid to the personal representative named in the Will on receipt of an indemnity from him or her. However, if your nan owned any shares a Grant will be necessary.

I assume your mother's name was on the bank and building society accounts for her to assist your nan (rather than as co-owner). In that case, strictly speaking you should follow the procedure above. However, if the estate is under �5k, I can't see a problem with your mother doing as you suggest.

[factor-fiction]

Barmaid's answer is excellent as always. If the estate is below the probate limit my only query about proceeding as you suggest is that, depending on the terms under which she is a signatory, she may need to inform the bank that Nan has died and that Mum is planning to withdraw the money

[phillipa.d]

Thank you very much for your answers.

I believe that the amount is below 5k. I don't know if Mum's name was on the accounts, as in a joint account, but she was a second signatory, and has paid money in and out of these accounts for a few years (5 - 6?) and handled bills for the home, withdrawn 'pocket money' for Nan, etc...

Can she just inform the bank of Nan's death (obv with death cert as proof) close accounts, and withdraw final balances without need to involve solicitors?

Nan bought British Gas shares many years ago, for my brother and me, but I think that these are already in our names.

Thank you for your answers.

xx

[phillipa.d]

Who do we get the Idemnity Form from?

[Barmaid]

No need to involve solicitors at all. Send an original death certificate to the bank. Chances are, they will let your mother close the accounts. If not, quote the above mentioned act at them and suggest your mother will give them an indemnity - they will provide a suitably worded document.

[factor-fiction]

This link may help.
I suggest your Mum talks to the bank- I think they'll help her through the process.

[factor-fiction]

The missing link!
http://www.direct.gov.uk/en/Governmentcitizens andrights/Death/Preparation/DG_10029716

[phillipa.d]

I will take a look at your link shortly, but thank you for
advice. We were worried it would be some kind of theft or fraud if we just closed accounts and took money!

Thank you for all your help.

Pip

xx

[dzug]

We were worried it would be some kind of theft or fraud if we just closed accounts and took money!

If you 'just' did that without going through the procedures then it could be viewed that way. The banks do need to know what is going on

[Skyline D]

When my gran died she only had a few bank accounts and everything was to go to my grandad. I got all the accounts closed and balances transferred to my grandad by sending copies of the death certificate to the banks without a problem and without ever using a solicitor.