Can I Claim Money From Deceased Father's Bank Account?

Q.

My grandfather died a while ago leaving a sum of money in one of the main high street banks. My father did not have the same name as my grandfather (he has his mother's name) but has a signed legal document stating that he is the only son.

Can he claim the money in this account and is there a time limit?

A.

Probate Researchers and Heirs

Every year in the UK thousands of people die without leaving a will. Probate researchers are used to match up heirs to the unclaimed estates when someone dies intestate. It should be a simple matter for probate researchers to prove who the rightful heirs to an inheritance are if there is documented proof available. The fact that your father has a signed legal document should actually make it easier to prove the relationship between father and son even though they had different surnames.

Your father’s legal signed document should make proving he has a right to any estate a much more simple process. Of course identification documents will still be required before any claim can be made. But these documents should simply be along the lines of birth lines or a passport. Researchers will be able to use this information to establish a claim. Your father should initially find out if there is an executor or if a will was actually made. Contacting the bank or your grandfather’s solicitor should be one of the first points of call.

Death and Primary Debts

There are some considerations to be taken into account with your grandfather’s estate. There may be primary debts that will need to be paid from your grandfather’s estate before any beneficiaries can be provided with any inheritance. If you grandfather did leave a will naming beneficiaries then this money cannot be paid out until primary debts have been paid. Primary debts will include mortgages, rent arrears, fuel bills, and hire purchase agreements.

There may also be other beneficiaries to be taken into account that your father is not aware of. If there are other beneficiaries then they may have an equal claim to the money in your grandfather’s bank account.

Time Limit to Claiming an Inheritance

There is a 12 year time limit when claiming an inheritance before the Treasury Department will take the money. The actual deadline is 30 years but this ultimate expiration period is at the discretion of the Treasury Department. For the first 12 years, claimants are able to actually also claim the interest that has been mounting on the money in the bank account. After this time limit has passed no interest will be paid on the money in the account.