How Long Can a Deceased Person's Bank Account Remain Open in the UK?

In the UK, the duration for which a deceased person’s bank account can remain open is influenced by various factors, including legal and administrative processes. Here’s an overview of what typically happens and how long the account may remain open:

What Happens to the Bank Account of a Deceased Person?

1. Immediate Freezing of the Account: When a bank is notified of the account holder’s death, the account is usually frozen. This means that no further transactions, such as withdrawals, direct debits, or standing orders, can take place.

2. Access for Paying Certain Debts: Even though the account is frozen, banks may allow the release of funds to cover urgent expenses related to the estate, such as funeral costs or inheritance tax. However, this is done on a case-by-case basis.

3. Administration and Probate: If the estate is substantial, probate may be required. Probate is a legal process where an executor is appointed to manage the deceased's estate. This process can take anywhere from a few months to over a year, depending on the complexity of the estate. During this time, the bank account remains frozen, and the bank will release the funds only after the executor presents the Grant of Probate (or Letters of Administration if there is no will).

4. Closing the Account: Once the legal formalities are completed, the executor or administrator can close the deceased person’s bank account. They’ll need to provide the death certificate and the Grant of Probate or Letters of Administration.

How Long Can the Account Remain Open?

There is no fixed time limit for how long a deceased person's bank account can stay open in the UK. The key factors that determine this include:

• The complexity of the estate: If there are many assets to manage, the process can take longer.
• Probate or Administration Delays: Sometimes legal delays in obtaining probate or handling disputes among beneficiaries can extend the duration.
• Communication with the Bank: It’s important for the executor to remain in contact with the bank to ensure that the estate’s affairs are properly managed.

In most cases, the account stays frozen until probate is granted and the estate is settled. This can take anywhere from 6 to 12 months, though in some cases it may extend further.

How Fraser Bond Can Help

Navigating the legal and financial aspects of a deceased person’s estate can be complex. Fraser Bond offers guidance to property beneficiaries or executors facing challenges with the probate process. We can assist with property valuations and provide advice on the best steps to take when selling inherited property, helping ensure that all legal formalities are handled efficiently.