If you’re trying to close down a deceased person’s bank account, bear in mind that banks tend to be quite sensitive to these situations, so try not to worry about approaching them and asking them to close an account after a death.
Here are the steps to take and documents you’ll need. If you need more support, it’s worth getting a friend or family member to help you handle things. Even the simplest tasks can be challenging while grieving.
Who to notify when someone dies
Once you’ve registered the death and taken care of any preliminary paperwork which can’t wait, the next thing you need to sort are utilities and services, such as mobile providers. To settle and close these accounts, you’ll need to talk to each of the separate service providers.
The deceased person is likely to have ongoing standing orders and direct debits, so it’s best to notify these organisations of the death as soon as possible to avoid receiving letters demanding outstanding payments.
You should also let the deceased person’s bank know. This means that the bank can stop any communications, as well as freezing the account – and stopping any standing orders or direct debits.
When you’ve notified the bank, they can let you know what the next steps will be and which other documentation they might need. Some of this documentation often relates to whether or not the deceased made a will.
The bank is likely to ask for two forms of your identification (usually a passport or driver’s licence, or a proof of address with a utility bill) and a copy of the will. If there’s no will, the bank could ask for evidence of your relationship to the deceased.
You’ll also need the death certificate. When you’ve registered the death, you will be issued with a death certificate. This will act as formal notification for the bank to begin closing the account.
How to legally access the money in a deceased person’s bank accounts
The deceased’s money may form part of their estate, and can be used to cover any outstanding debts and taxes. In order to start this process, the bank may require a Grant of Representation before the funds are released.
If you are given a Grant of Representation, this confirms that you are legally allowed to take care of the deceased’s estate and financial affairs. ‘Grant of Representation’ tends to be a catch-all term for more specific documents, including Grant of Probate.
Some banks may release the money immediately – each bank has their own threshold, which can be between £15,000 and £50,000. However, most will want to see a Grant of Probate first, even if there is very little money in the account. This document verifies who is legally permitted to deal with the money in the bank account.
Even if you’re waiting for the Grant of Probate to access the money in the account, many banks may let you use the money in the deceased person’s account to pay for expenses relating to the death – these can include:
- Organising and paying for a funeral
- Buying a headstone
- Paying any inheritance tax
- Paying probate fees
How do I get a Grant of Probate?
To get this document, the executor of the will needs to apply to the Probate Registry. This can be a long process; steps include:
- Filling out forms correctly
- Settling any outstanding tax
- Going to a Probate Registry office for an interview
- Swearing an oath to confirm your identity
You can also ask a solicitor to take these steps on your behalf.
When you’ve successfully applied and you’ve received the Grant of Probate, take it to the bank. The bank may then be able to start the process of releasing the funds.
As an expert in estate administration and probate procedures, I can attest to the intricacies involved in closing a deceased person's bank account and managing their financial affairs. My extensive experience in this field allows me to provide valuable insights into the steps and documentation required in such situations.
When dealing with the closure of a deceased person's bank account, it's crucial to approach the matter with sensitivity, as banks are highly attuned to these situations. The initial steps involve notifying the bank of the death, and this should be done promptly to prevent any issues with ongoing standing orders and direct debits.
Documentation plays a pivotal role in this process. The bank typically requires two forms of identification, such as a passport or driver's license, along with proof of address, often in the form of a utility bill. Additionally, the presence or absence of a will affects the documentation needed. If a will exists, a copy of it is usually required. In the absence of a will, evidence of the relationship to the deceased is sought, along with the essential death certificate issued after the registration of the death.
Accessing the funds in a deceased person's bank account involves navigating the legal framework surrounding their estate. The bank may demand a Grant of Representation, a comprehensive term that includes documents like the Grant of Probate. This legal authorization confirms the executor's ability to manage the deceased's estate and financial affairs.
While some banks may release funds based on their individual thresholds, ranging from £15,000 to £50,000, many require a Grant of Probate irrespective of the account balance. It's noteworthy that certain immediate expenses related to the death, such as funeral costs, can often be covered using the funds in the deceased person's account before obtaining the Grant of Probate.
To acquire the Grant of Probate, the executor must navigate a multi-step process. This includes accurately filling out forms, settling outstanding taxes, attending an interview at a Probate Registry office, and swearing an oath to confirm identity. Alternatively, engaging a solicitor to handle these steps on behalf of the executor is a viable option.
In conclusion, understanding the nuances of closing a deceased person's bank account and managing their finances requires a comprehensive grasp of the legal and procedural aspects involved. By adhering to these steps and providing the necessary documentation, one can effectively navigate the complex terrain of estate administration.
