Tracing Premium Bonds and Bank Accounts

Premium Bonds, unlike bank and building society accounts, can easily slip through the net when you are sorting out the effects of someone who has died.

Perhaps they were a long-forgotten childhood birthday present tucked away in a dusty corner many decades earlier. Thankfully, National Savings and Investments (NS&I) runs a free tracing service. Visit their website, www.nsandi.com, and fill in the form to see if Premium Bonds or national savings certificates were held by the deceased.

Premium Bonds are still valid up to a year following a death. After that, they need to be cashed in.

Bank and building society accounts are easier to trace as statements should be found amongst recent correspondence. Write to them and enclose a copy of the death certificate. Ask for standing orders and direct debits to be halted, and request a letter of final account along with any share certificates or deeds they may hold.

Income and outgoings should now be routed through a special account opened by the personal representative on behalf of the estate.

Be aware that banks, building societies and NS&I may want to see a grant of probate, depending on the sums of money involved.

For help with the probate process, contact Heritage Will Writing on 02380 879243.