No Will

[Itsdare]

Can someone advise me how this will work?

My dad did not have a will or a power of attorney. He passed recently and my older brother has taken on the administrative tasks. He has informed my dads bank of his passing. I know from conversation that my dad would have wanted to share his small pot with his three children and grandchildren after his passing and have no doubt my brother will act with integrity.

But how will it work? Will the bank release the funds to him even though there was no will and he doesn't have any power of attorney? Are we all equally next of kin? Just curious how this would look please if anyone knows?

POA is not valid after the death so that does not come in to it. One of you will have to get the death certificate and take it to the bank. They will give you some forms for you all to sign, I think it is called a Form of Declaration where you state that you are the next of kin.

The bank will release funds from your dad’s account to pay the funeral costs and any taxes. Then the account is close a cheque made payable to your dad’s personal representative and they distribute the money.

Most banks release the money to the executor if it’s under 50k without probate needing to be granted.

Contact the probate department of the bank, and they will guide you on their Small Estates Policy. Also contact AGE UK who are really helpful. When you register the death, there is a package they give you called Tell us Once. They usually help you with that so that you don’t have to tell multiple people.

Google:
Rules if intestate.
Letters of Administration.

a cheque made payable to your dad’s personal representative and they distribute the money.

Which they must do according to the law of intestacy (which vary by country), not what you think his wishes were. Although any recipients may then redistribute among themselves if they choose - for example a child who inherits could pass their share to grandchildren.

Sorry for your loss

Hope this helps

The person taking charge of affairs will need several copies of the death certificate

https://www.gov.uk/inherits-someone-dies-without-will

You may find this useful

https://www.gov.uk/after-a-death/organisations-you-need-to-contact-and-tell-us-once