Sole accounts (in one name only)
Once we have registered the death we may need additional information from you depending on the total amount of the balances held at the West Brom, in the name of the deceased, before releasing funds. Please see the table below for further information.
| Total balance of the account(s) held |
Documentation needed |
Where to obtain the documentation |
Additional Information |
| Up to and including £5,000 |
Statutory Declaration (if probate is not required). |
We will send this to you once the death has been registered. Alternatively, you can obtain a copy by calling us or visiting one of our branches. |
If there is a Will, the Statutory Declaration needs to be completed and signed by the Executor(s). If there is no Will, it must be completed by the next of kin. |
| £5,001 up to and including £14,999 |
Statutory Declaration (if probate is not required). |
As above. |
In addition to the above,the signatures of the Executor(s) or next of kin need to be witnessed by a solicitor, Commissioner for Oaths or Authorised County Court Official. The witness may charge for this service. |
| £15,000 and above |
Original Grant of Probate or Letters of Administration. |
The Probate Registry Office. |
You may instruct a legal adviser to obtain the Grant of Probate or you may wish to apply to the Probate Registry yourself. The legal adviser will charge for this service and a fee will be payable on application for the Grant of Probate. |
Please note that we are unable to change the deceased customer’s account into the name(s) of the Personal Representative(s). If the Personal Representative(s) does not have an existing West Brom account they can open a new account with us into which the balance(s) can be paid. This will be subject to account terms and conditions, including verification of the identity of the Personal Representative(s).
Release of funds
Before any funds can be released we will require identification from all acting Personal Representatives. Please refer to our ‘Help and Advice following bereavement’ leaflet to find out what documents are required for identification.
Paying for urgent expenses
If you require payment for Funeral Director expenses or for any other expenses, such as flowers or catering, we are able to provide you with a cheque, from the deceased’s account, made payable to the Funeral Director or supplier, on receipt of the invoice. If you require payment for Probate Fees, we require a completed withdrawal form signed by an Executor and a cheque will be produced with the payee as HM Courts & Tribunal Services. We are also able to pay Inheritance Tax on receipt of a tax demand, which will be paid as instructed by HM Revenue and Customs (as long as there are enough funds in the account). Please visit one of our branches or post the invoice(s) to the Head Office address.
Joint accounts
In accordance with the Society’s General Terms and Conditions, once the death has been registered with us on a joint savings account, the rule of survivorship will apply. This means that the account can continue to be operated in the sole name of the surviving account holder.
Power of Attorney or Court of Protection Order
If a Power of Attorney or Court of Protection Order has been registered on an account, this will cease upon the death of the account holder. Please refer to ‘Dealing with the deceased person’s estate’ section at the top of the page, for an explanation of what then happens.
Interest and tax
Interest will continue to be paid on the account until it is closed in accordance with the terms and conditions of the product.
For all account((s) any withdrawals or closures after the death of the account holder will be made without any loss of interest (except those that are in joint names and the surviving account holder continues to operate the account).
Additional Permitted Subscriptions
Where a customer who holds an ISA dies, their surviving spouse/civil partner is eligible to invest an Additional Permitted Subscription allowance into an APS ISA in their own name in addition to their own personal annual allowance.
Where an ISA investor died on or after 6 April 2018, the ISA becomes a ‘continuing account of a deceased investor’ and can continue to benefit from the ISA tax advantages until the ISA ceases to be a continuing account of a deceased investor. If you think the above affects you and you have any questions, please do not hesitate to contact us.
Membership
On the death of a sole account holder the account no longer carries membership rights.
Interest will continue to be charged in accordance with the terms and conditions of the product. Mortgage payments will still be required and arrears may arise if payments are missed. If there are any difficulties making payments, please call us.
Sole borrower
Once the death has been registered with us we will require the original Grant of Probate in order for us to note the Executor(s). If the deceased did not leave a Will, we will need to see the Grant of Letters of Administration. The mortgage account will then need to be repaid either from the proceeds of the sale of the property or the proceeds of a life policy.
Joint borrowers
There are two types of joint borrowers:
- Joint Tenants: Once the death has been registered with us we will remove the name of the deceased person from the mortgage and it will continue in the name of the remaining borrower(s).
- Tenants in Common: Once the death has been registered it is recommended that you seek legal advice to deal with the deceased’s share of the property.
Life policies
If there are any life policies in place you will need to make arrangements with the policy provider who will advise you about how to make a claim.
Home (Buildings and/or Contents) Insurance: If the deceased held home insurance through the West Brom the policy must remain in force until the mortgage is repaid or until we are notified that alternative arrangements are in place.
If the deceased held home insurance through another provider, we recommend speaking to the other provider before taking any action.
