How to sort out a late relative’s estate, and force tardy banks to hand over cash

Stephen Gold is a retired judge and author who recently acted as executor for his beloved late aunt.

In part one of a series exposing the frustrating ordeal of being an executor, he explained how to force financial institutions to pay compensation for unacceptable errors and delay. 

In the second instalment, he described how to squeeze a ‘without prejudice’ goodwill payment out of the probate service.

Today, in his guide aimed at helping This is Money readers sort out a loved one’s finances, he racks up yet more compensation for her state from laggardly businesses.

It should be a doddle now. Shouldn’t it? No.

You may have secured that grant of probate, but you are likely to discover that getting money ‘out’ is not as fast as getting it ‘in’.

Banks and building societies rightly want to see the probate document.

It is worthwhile asking the probate service for additional authenticated copies of probate at £1.50 a go so that you can send them all out at the same time to whoever needs to see them.

In all instances, I sent institutions holding my aunt’s money a copy of the probate document, bearing the seal of the High Court of Justice and a pretty little silver wafer seal to boot. I even added a little certificate of my own as to its authenticity.

Paper was a bit flimsy, though you cannot expect too much for a £273 fee (but no fee if the value of the estate is £5,000 or less, or you are on a low income or receiving certain benefits).

However, that’s all you get these days: no longer a more robust document with a copy of the deceased’s will attached to it and which was treated as the original probate.

Charter Savings Bank chucked it back. They could not accept a certified copy. I protested. They withdrew their objection.

Close Brothers let me down again. After 19 days from getting my paperwork, they had still not paid out. I complained. They processed payment the next day and paid compensation of £50.

‘I can assure you we are taking steps to ensure that a situation like this does not occur again,’ they told me.

Zopa were quick enough to pay over what was due after they had received the paperwork but extracting a closing statement from them – an essential step to check figures – was another matter.

Nothing for 15 days after asking and then only online access, needing a username and password which did not work for me.

A complaint acknowledged the delay and produced the payment of £50 compensation – and a copy of the statement by post for which I had pleaded.

Vanquis Bank Savings were the slowest. After a 29-day wait for a payment and notwithstanding the submission of a complaint, they were still sitting on the estate’s money.

And just as irritating and inconvenient, they will not electronically transfer money but insist on sending a cheque when they do pull their finger out, with the consequent extra delay that occasions. I telephoned and moaned.

‘I will send you a cheque in today’s post, first-class,’ they said.

‘Why must it be a cheque?’

‘We don’t do electronic transfers to executors, but we have had other complaints about this and it is something we are looking at.’

They had specifically told me that they did not require any evidence of my identity because I had saved with them in my own right. As a result, they had checked me out ages ago. 

Retired judge and writer Stephen Gold 

Stephen Gold is author of ‘The Return of Breaking Law’, a guide to your legal rights and winning in court or losing well.

It is published by Bath Publishing and, among a myriad of topics, includes a template for the longest will in the world and tips for removing executors and claiming against an estate when you have been left nothing.

The cheque arrived seven days later. The company’s distribution department which was handling the posting was ‘changing departments’ which led to delay for which they were sorry – as was I.

Vanquis has since apologised for the overall delay with a £50 compensation offer which I have accepted. It took nine days for the apology letter to be delivered but that could be wholly or partially down to Royal Mail and that’s another matter for another day.

NS&I had had Premium Bond repayment paperwork from me for close on 28 days. An acknowledgement but still no money. The gentleman who answered my call sounded unusually charming and helpful. I asked whether he was a robot.

‘I am a virtual assistant,’ he said. He then proceeded to indicate that as a magic 28 days had not elapsed, I would have to come back another day.

The bond money landed in my bank account 27 days from paperwork. Not some post-death prize money, though. Warrants would follow. They did.

My award for Fastest Payer to a Deceased’s Estate – cue drumroll – goes to Oxbury Bank which had previously paid me compensation for delay but redeemed itself.

It came up with the account balance due within eight days of receiving a copy of the probate and accepted photocopies of all relevant documentation sent by e-mail. What bliss. 

End note: Will my saga help you? Can you help me?

My efforts to hold the banks and firms that provided poor service to account garnered about an extra £600 for my aunt’s estate and her beneficiaries.

By the way, I need to rewrite my own will and find a new executor. If anyone is interested, let me know. Are you still there? Where have you gone? My affairs are quite straightforward. Come back. Please!

> Do you have feedback for Stephen Gold and This is Money about your experiences of being an executor? Are you waiting for grant of probate and how long is the delay to date? Have you managed to get financial firms to pay compensation?

Tell us in the comments below, or write to us at editor@thisismoney.co.uk (please put EXECUTOR in the subject line).