Page 30 - v3-DignityFuneralHome-Guide-29-11-19
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LEGAL ADVICE
After a death, there can be many Account is held in the sole name of
legal details to work out. While it is the Deceased it is usual for the Bank
not necessary to engage a solicitor, to freeze the Account once notified
it is strongly recommended. A of the death. Banks will, however,
solicitor will make sure that all generally facilitate payment of
the necessary legal formalities funeral expenses by the Executors
are correctly completed. The or next-of-kin on production of
time following a death of a loved relevant documentation. The
one is extremely emotional and balance in the Account will be
even the closest family may have released by the Bank once Grant of
disagreements over the most Probate or Administration has been
trivial matters. It can therefore be extracted. In certain cases, there
beneficial to have an experienced may be no requirement to extract
solicitor take on the additional Grant of Probate or Administration.
burden involved in extracting
Probate or Administration. Credit Union Accounts
In the event that there is a valid
Bank accounts nomination on a Credit Union
Whether an Account is held in Account then the account proceeds
the sole name of the Deceased or will be paid to the Nominee(s)
joint names with another surviving without the necessity of Probate or
owner will determine what needs Administration.
to be done. Any Account in joint
names will usually pass to the joint
account holder(s) under the rules of
survivorship, although depending
on the relationship of the parties
there may be a resulting trust in
favour of the Estate. Where an
Page 30 | Dignity Funeral Care
