How to access a loved one’s bank account after their death.

To access a bank account after the owner dies, you may need to acquire a Grant of Probate or a Grant of Letters of Administration. However, this depends on the size of their estate.

What is a Grant of Probate?

A Grant of Probate or a Grant of Letters of Administration is sometimes required to administer a person’s estate following their death. If the person left a valid Will, they will likely have named an Executor who is responsible for acquiring a Grant of Probate. If there is no Will, a relative will need to step forward to act as Administrator. This is essentially the same role as an Executor, except an Administrator will need to apply for a Grant of Letters of Administration rather than a Grant of Probate.

In many cases, a Grant is required before bank accounts can be accessed.

When is a Grant of Probate required?

Generally, if the estate is worth over £50,000 or contains property, a Grant of Probate will be required to distribute its assets to the beneficiaries. However, different banks and financial institutions have different thresholds for probate. You might find that your loved one’s bank account did not contain funds over this threshold. If this is the case, a Grant of Probate will not be required to access the funds within.

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