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joint account and probate question

(5 Posts)
thereinmadnesslies Fri 20-May-16 19:21:15

I'd really appreciate some advice on a probate question.

DM recently passed away unexpectedly. DF died several years ago without a will, so we obtained letters of administration. The estate was under the IHT threshold (just) and in theory the estate was divided in accordance with the intestacy rules. However, my siblings and I decided to leave our share of the estate in an account held in DM's and my names. We did this because DM would have need of the money eventually (to meet medical needs), but we were all skint students so we wanted to keep the money safe. Over the past few years the majority of the money belonging to DM in that account has been spent, so the majority of funds are the portion allocated to me and my siblings under the intestacy rules.

I now need to sort DM's estate (again, intestate, sigh ...). Is it going to be acceptable to explain how the majority of the balance in this joint account actually belongs to me and my sibs, or is this going to create a headache? Would really appreciate any advice anyone can offer, thanks.

Collaborate Fri 20-May-16 20:59:23

You own what's in the account by survivorship anyway, as it was a joint account. You can deal with it immediately.

thereinmadnesslies Sat 21-May-16 11:54:21

Thanks Collaborate for your advice. I didn't think survivorship applied to account held jointly by non spouses? There's quite a lot of money in the account, maybe £100k.

Collaborate Sat 21-May-16 23:14:10

It applies whatever your relationship is with the other owner.You each own all the money in the account. Just as when a property is owned as joint tenants.

Kwirrell Sun 22-May-16 07:52:39

I was in a similar position recently but with much less money. I rang my local Probate office for guidance on two matters and they were extremely helpful.

Information straight from them seems the best way for you to proceed.

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