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Max Lowry
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Category: Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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If the deceased person only has £20,000 in different bank

Customer Question

If the deceased person only has £20,000 in different bank accounts, does the next of kin have to go through probate or is it ok to get the money from the 3 different banks. There isnt any property involved, only monies in his accounts.
Submitted: 4 years ago.
Category: Law
Expert:  Max Lowry replied 4 years ago.
Max Lowry :

Hi, welcome to Just Answer. I will help you with your question.

Max Lowry :

You almost always need a grant of probate if there is more than £15,000 in the estate.

Max Lowry :

It depends on the bank really, but I expect you'll need a grant of probate. You see, technically, the authority to deal with the estate arises from the will itself, not the grant of probate. The probate is "confirmatory" meaning, it's just the Court confirming that somebody has been validly appointed under the will.

Max Lowry :

Technically, therefore, probate isn't "needed" for anything, but in reality, banks and other third parties want the protection of the Court under, just in case anything goes wrong, like a challenge to the will or something like that. So, in short, it depends on the bank, but for the sum of £25,000, probate is likely to be required.

Max Lowry :

I hope this answers your question. If so, please do remember to rate my answer. If you need more information, just let me know.

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