Dealing with the death of a relative is stressful enough, without the added stress of a long drawn out winding-up of an estate. Well, a new protocol just agreed will reduce that stress level somewhat, and speed things up. According to partner Victoria Boyer, “The major Banks, the Law Society and the Society of Trust and Estate Practitioners have agreed a new procedure to ease the burden on family members who suffer a bereavement.”
The protocol covers the different administrative procedures used by banks and building societies for releasing assets held by deceased customers. It has been signed by the British Bankers Association on behalf of Barclays, HSBC, Lloyds,Halifax, RBS and Natwest, and covers current, savings, credit card and unsecured loan accounts. Vicky comments: “The last thing grieving relatives want is delay or hassle. This new protocol should smooth things out and speed things up.
For further information please contact Victoria Emmett of our Axminster office on 01297 630700, or email her at firstname.lastname@example.org .