It is common for couples to have separate bank accounts. However, this can lead to financial hardship for the survivor when one dies as it can take many weeks to obtain a grant of probate of the will and collect in the estate assets. Further, it is not recommended for executors to make distributions to beneficiaries before the time limit for bringing (or giving notice of) a family provision application has elapsed.
Recently we were pleased to assist a client with obtaining an urgent grant of probate as she had very little in her own name to live on and meet significant expenses until the deceased’s bank account, with a significant balance, was able to be collected in.
As our client was substantially dependent on the deceased, she was able to receive an early interim distribution from the estate for her maintenance and support. That may not always be as clear as it might need to be.
Call one of our experienced estate planning lawyers to discuss how thorough estate planning can guard against you and your partner experiencing financial difficulties during a period of grief.
By: Hannah Willis