Banks demanding probate

[hightail]

You do need probate if they say you do.  Banks etc. have their own limits on how much they will release without probate and there's no getting round it.  They could set it at £5k if they wanted because a Grant of Probate is the legal authority to access the funds.

 

I have just gone through the process and after some initial difficulties in paying over the phone they've dealt with application with record speed.  Just do it and you'll have access to the money much faster than if you try and argue the point.

Edited April 28, 2020 by hightail

[hightail]

1 hour ago, arsen lupin said:

We're seeking a possible alternative for people in our position, who have only one financial institution to answer too, we feel some provision should be made for those in our situation. Possibly through a county court and simplified process.

 

Applying for probate is incredibly simple these days if the estate is uncomplicated.  I honestly can’t imagine how any alternative could be considered a simplified process.  If you’re worried about a tax liability coming to light because of transfers before your mother died that’s another matter, nothing to do with the process.

[hightail]

It's two simple forms and £215 pounds for a return of £60k.  Massively simplified since the last time I had to do it some years ago.  I honestly don't understand your comment that it's a 'larger issue'.  The .gov.uk website makes it perfectly clear.

 

Contact each asset holder (for example a bank or mortgage company) to find out if you’ll need probate to get access to their assets. Every organisation has its own rules. (my bold)

 

 

 

 

 

 

[hightail]

16 minutes ago, FTMDave said:

I've twice had to deal with dead people's estates.  On both occasions the banks had a low figure from £1 to a couple of grand or so that they would release on production of a death certificate.  Then from around £2000 to £5000 you had to swear an oath before a solicitor.  But above five grand or so it was probate.

It's unbelieveably simplified since the last time I had to do it.  Banks etc. will release much larger sums these days but even if you do go down probate route even that is simplified and streamlined.  From posting off the forms it took under two weeks for me to get the Grant of Probate, this even though I'd had an email confirmation of receipt of the paperwork and a statement that it could take 'up to' eight weeks.  There is now no need to do anything more, no swearing an oath, that's it grant pops through your letterbox and job done.