Bank looking for copy of Will

[dodo]

The Bank where my uncle has money in Cash Save account which he shared with his late wife..
He has produced her death cert but the bank said they need copy of there Will before they can remove her from the Cash Save account. He thought Death Cert would suffice.Is this correct. Tks

 

[jpd]

It could be depending on how the account was setup - joints tenants or tenancy in common

Joint tenants: the balance passes on survivorship, so the death certificate would be sufficent
Tenants in common: half the balance is included in the dead person's estate and the will, if there is one, or intestacy rule, if no will, determines what happens to this half

 

[dodo]

It could be depending on how the account was setup - joints tenants or tenancy in common

Joint tenants: the balance passes on survivorship, so the death certificate would be sufficent
Tenants in common: half the balance is included in the dead person's estate and the will, if there is one, or intestacy rule, if no will, determines what happens to this half

Tks

 

[Pmc365]

I thought Joint tenancy or tenancy in common only applied to Property. Years ago the banks used to mark accounts "payable to either or the survivor" but there could be a resulting trust depending on the circumstances I.e. the relationship and who contributed to the account. There would be a presumption of advancement between a husband and wife I.e. joint account passed by survivorship and did not form part of the deceased's estate. I'm not sure why it was the bank's business to view the will. I would have thought a death cert would suffice.

 

[Monbretia]

All that stuff about tenancy does not come into bank accounts, they are either joint or single and how they are dealt with depends on a few things including the balance and whether or not there is a will. Here is just an excerpt from one bank's requirements just taken off their website, I don't think it is at all uncommon for a bank to look for the will, I know I saw many in my banking days.

 A certified copy of proof of death (for example, death certificate / coroner’s certificate / interim certificate of fact of death)
 If there is a will: a certified copy of the will naming the executor(s) to confirm who is entitled to deal with the estate
 A certified copy proof of identity and proof of address for the executor / administrator / next of kin who is authorised to deal with the estate of the deceased if they are not a Bank of Ireland customer. In some circumstances, we may require an up to date proof of identity and proof of address for an existing Bank of Ireland customer. We need this information so we can meet our legal duty under the law against money laundering and other crimes (please refer to page 25 to find out what documents we need for this).

 

[Thirsty]

You can get a certified copy from the Solicitor who holds the will.

If you have the original you can bring it to the bank in person and let them copy it there and return the original to you.