• Only registered members can see all the forums - if you've received an invitation to join (it'll be on your My Summary page) please register NOW!

  • If you're looking for the LostCousins site please click the logo in the top left corner - these forums are for existing LostCousins members only.
  • This is the LostCousins Forum. If you were looking for the LostCousins website simply click the logo at the top left.
  • It's easier than ever before to check your entries from the 1881 Census - more details here

Wills and Probate

N

NikkiM

LostCousins Member
Found a couple of wills recently saying money has been left to a Bank.

Is the Bank responsible for finding heirs and distributing the money?
Is it to pay off a debt to the Bank?
Or is it something else?

Thanks for any help
 
NikkiM said:
Found a couple of wills recently saying money has been left to a Bank.
Click to expand...
People sometimes named their bank as an executor, or as a trustee in their will, but if they were leaving money to pay off a debt, then the will would usually make this clear.

Can you be a bit more specific as to what was said? And where and when were the wills proved?
 
One said XXX of XXX died 6 Jan 1951 Probate Bodmin 31 March to Westminster Bank Limited. Effects £16570 1s 2d. I believe both his sisters had died by then and all 3 were childless. Their parents died when they were infants.

The other will said something very similar but a different probate office.
 
NikkiM said:
One said XXX of XXX died 6 Jan 1951 Probate Bodmin 31 March to Westminster Bank Limited. Effects £16570 1s 2d.
Click to expand...
OK, so this is not actually in the will itself but from the Probate calendar?

What you've quoted indicates that probate was granted to Westminster Bank Limited, which means they were an executor named in the will.
 
My mistake sorry. Yes it was the probate calendar.

Does that mean that the Bank would then be responsible for tracking down any heirs and distributing accordingly or did they just take the money as executors?
 
NikkiM said:
Does that mean that the Bank would then be responsible for tracking down any heirs and distributing accordingly or did they just take the money as executors?
Click to expand...
An executor has to distribute the money according to the wishes of the testator, as detailed in his/her will. An executor is, however, allowed to deduct reasonable expenses for their services, which for banks and other professionals will include a fee.

If there is no will then there will be a grant of administration, and an administrator is responsible for tracking down all the legal beneficiaries of the deceased, according to intestacy law for the country concerned.
 
You must log in or register to reply here.
Back
Top