Opening a Bank Account For a Dead Person

Among the many first things that need doing following a death is for a bank account to be opened on behalf of the estate.

That should be done by the principal representative, be it an executor or an administrator, who has the legal right to dispose of the deceased’s money and property. It’s best to approach the dead person’s own bank as the staff there are likely to be more understanding and more familiar with his or her affairs.

This enables the personal representative to pay for the probate application forms, any other legal services, the funeral costs and to settle any liabilities all from the same account. And this keeps things neat and tidy. Once the grant of probate has been issued, funds from various financial institutions can be paid directly into this account.

As a personal representative, you are not entitled to claim expenses for time spent administering the estate. But you can claim for reasonable costs like legal fees, travel, telephone, stationery, postage and legal notices in The London Gazette (the UK’s official public record) and regional newspapers.

As with any tax affair, keep all receipts and copies of cheques and maintain detailed accounts.

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