Z
Z100
Guest
Hi,
Does anyone know how flexible banks are on the issue of allowing the sole beneficiary of a will (the spouse in this case) access to the funds from the matured SSIA account of their deceased spouse without the costly need of taking out probate?
The bank in question has told the surviving spouse that if their late spouse's estate was worth over E25,000, which it is, then probate will be necessary.
Why is this the case when there is no tax between spouses - is tax the issue here?
Would appreciate any advice, thanks.
PS Should have added, I have been told banks can be flexible in cases like this and know of one widow who experienced such 'flexibility'.
Does anyone know how flexible banks are on the issue of allowing the sole beneficiary of a will (the spouse in this case) access to the funds from the matured SSIA account of their deceased spouse without the costly need of taking out probate?
The bank in question has told the surviving spouse that if their late spouse's estate was worth over E25,000, which it is, then probate will be necessary.
Why is this the case when there is no tax between spouses - is tax the issue here?
Would appreciate any advice, thanks.
PS Should have added, I have been told banks can be flexible in cases like this and know of one widow who experienced such 'flexibility'.