The Lemon Fool

If a British resident has an Australian bank a/c with cash in it, would that give a DIY executor any difficulty in retrieving the cash upon holder,s death please?

Martin Lewis' " Guide to Probate" suggests that it would, on page 23, and that a probate specialist would be needed.

The estate value would incur IHT.

feder1 wrote:If a British resident has an Australian bank a/c with cash in it, would that give a DIY executor any difficulty in retrieving the cash upon holder,s death please?

Martin Lewis' " Guide to Probate" suggests that it would, on page 23, and that a probate specialist would be needed.

The estate value would incur IHT.

I haven't seen the Guide you mention but the DIY Executor would probably need to get the UK Grant of Probate "resealed" in Australia***. This might depend on the amounts involved and the Australian bank's terms and conditions when dealing with such matters. Are you able to take a look at that bank's website or, if not, tell us which bank?

Presumably there are no other assets in Australia.

*** Here's a randomly found website explaining the process:

https://worldwidelawyers.co.uk/2015/09/ ... australia/

Thank you.

I think it is the NAB.

feder1 wrote:I think it is the NAB.

National Australia Bank Limited (there does appear to be a branch in the UK but that seems to be commercial only - click on UK here https://www.nab.com.au/corporate/global ... -expertise).

There is plenty below and in the links therein but that appears to be mainly aimed at Australian citizens. At least there is an online Deceased Customer Notification Form there. :

https://www.nab.com.au/personal/life-mo ... irst-steps

https://www.nab.com.au/personal/life-mo ... next-steps

Maybe one should get in touch with them via email to establish the procedure in advance, for where the Australian assets would, presumably, be less than the AUD$50,000 shown - I don't know if that figure relates to worldwide assets or only those in Australia (you appear to have ignored my Presumably there are no other assets in Australia. but perhaps I should have made that into a question).

Can the individual change the account into a joint account, such that the bank account can then be in the name of the survivor on the decease of the current holder?