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Post bereavement cheques need cashing

Lemon Slice
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Post bereavement cheques need cashing


Postby Pipsmum » September 12th, 2019, 5:47 pm

My mother died in July after a long illness. I was POA for all her affairs, both health and financial.

Mums post life affairs aren't difficult nor large enough to need probate. Most stuff just automatically passes to my dad. I am nominated in her will as the executor alongside dad.

The part I'm having a minor problem with, is post death monies being paid by cheque arriving still in her sole name. Upon informing Lloyds, who were very helpful, I mentioned at the time that I still had some premium bond cheques to pay in. Not large amounts, just a few £25 ones. However they've closed her current account and taken her name from the joint account with dad, so now I can't pay them in anywhere. There is also a matured investment to pay in. These payments are no longer able to go into the joint account as it is now a single account in dads sole name. I am also the named POA of his affairs but it doesn't help as the cheques are in her name.

My siblings and I are close, so there is no jealousy, rivalry nor subterfuge within our family thank goodness. However I would still much rather keep her finances well away from my own so that these legal financial dealings remain unadulterated by personal transactions. It makes it cleaner should anyone wish to see the paperwork later for any reason.

I would like to set up an executors account so that I can deal with all her affairs separately from my own monies. Lloyds wouldn't do this at all despite me and my parents having banked with them forever. Not very helpful. So I wondered if it was possible to set up an ordinary joint account, in her name and mine, using it solely as an acting executors account. Do I have to name it as such?

I can of course go back to source each time and ask them to reallocate the cheques, but this is equally pesky because it involves sending death certs all over the place and filling in claim forms.

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Re: Post bereavement cheques need cashing


Postby didds » September 13th, 2019, 11:40 am

I suspect the issue you'll have in opening a joint account is she will have to sign something... which she cant


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Re: Post bereavement cheques need cashing


Postby BrummieDave » September 13th, 2019, 2:33 pm

didds wrote:I suspect the issue you'll have in opening a joint account is she will have to sign something... which she cant


It's more fundamental than that, assets cannot be owned by a deceased person. So cheques cannot be paid into a deceased person's account nor can a new account be opened in their name.

You used to be able to open an executor account with most high street banks and pay the cheques into that, and indeed pay out from that account to meet the expenses incurred handling the estate.

If the number of cheques is small, and you don't wish to have the hassle of doing this, then simply ask the drawer of the cheque to reissue in your name as executor. They may do this upon receipt of the death certificate, or may insist on waiting for a certificate of probate.

It's a bit since I last did all this, so if any of the above is incorrect, please speak up.

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