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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10779
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Is there a statutory period after Grant of Probate before

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Is there a statutory period after Grant of Probate before the Assets can be transferred to the beneficiary

Hi, thanks for your enquiry. Could you give me a little more information, please? I take it that there has been a delay in distributing the Estate funds/has the Executor given a recent update? Al

Customer: replied 1 year ago.
I am joint executor with a partner in our solicitors. I had a letter dated 1 July stating that various Bank?Building Society Fixed Rate and Easy Access Bonds, in my late wife's name, would have to await a "Statutory Period" (Unspecified) after the Grant of Probate before being released to me.
Customer: replied 1 year ago.
The Grant of Probate was obtained sometime before 10 June (again unspecified)

Hi, thanks for your reply. To be honest, I am not aware any "statutory period". Provided Probate has been issued, I am not aware of any Banks/B Societies demanding that an account remain open. If a Bond has not reached maturity, the Bank/ B Society will allow the Bond to remain open if this is what the Executors want, but otherwise, the Bond can be closed. If you wish to give me with which Bank/B Society the Bonds are held, I can look into it further for you? Kind Regards Al

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