What to do with a loved one's finances when they die
One of the most difficult and stressful periods in anyone’s life can be the death of a loved one. Having to deal with the estate and taking care of financial affairs can add to the worry and stress at an already difficult and emotional time.
We want to make this process easier for you so we've put together the below guides to help.
Firstly, call us or visit your local branch to let us know about the death and your relationship with the deceased. We will add notification of the death to the account and add your details as our registered contact. Until we receive the death certificate, we are unable to discuss the details of any account(s) they may hold with us due to data protection.
After you've notified us of the death, we need to see the death certificate within the next three months. There is no need for us to see the Will.
We can receive the death certificate via branch or store or it can be sent in the post to:
PO Box 232,
51 Newmarket Road,
Once received, we will notify you to confirm we have receipt of the certificate and will explain if there is any additional information we need.
We will let all relevant departments know here at The Cambridge so you don't have to.
Further details on what to do for savings accounts can be found here.
Further details on what to do with mortgages can be found here.
Legal terms glossary
A person's Estate includes everything they own such as:
- Cash / Bank / Building Society Accounts
- Insurance Policies
- Stocks & Shares
Death Certificate / Interim Death Certificate
This Certificate must be obtained and the death registered before any withdrawals for funeral expenses, probate fees or inheritance tax can be made. Certified copies can be accepted - please see our 'verifying your identity' page, for information on who can certify documents.
For savings, a Death Certificate Verification Form can be accepted when received directly from a Solicitor.
This is a formal declaration, which names the person(s) entitled to the proceeds of the estate. This form must be witnessed by either a Solicitor or a Commissioner for Oaths.
There are two forms:
- Stat Dec with Will - if the deceased died Testate (leaving a will)
- Stat Dec without a Will – if the deceased died Intestate (no will)
The Executor(s) are noted on the Probate/Letters of Administration as being the person(s) entitled to collect and distribute the proceeds of the estate.
Grant of Representation
This can sometimes be known as a "Grant of Probate" or "Letters of Administration".
Grant of Probate (Probate)
Grant of Probate is issued by the Probate Registry Office and is a legal document noting the Executor(s) named in the will, entitling them to collect and distribute the proceeds of the estate.
Letters of Administration
Letters of Administration will be issued rather than Probate if:
- There is no will
- The will is not valid
- There are no Executor(s) named in the will
- The Executor(s) cannot or are unwilling to act
The person who wants to deal with the estate will have to apply to the Probate Registry Office for Letters of Administration. This person is called an Administrator.
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