New bereavement protocol for grieving relatives
A new protocol has been agreed to help ease the administrative burden of families who face bereavement.
It has been agreed by the British Bankers’ Association (BBA), the Law Society and the Society of Trust and Estate Practitioners (STEP), and covers the exchange of information between banks, solicitors and estate practitioners following the death of a bank customer. It aims to help solicitors negotiate the various administrative procedures used by banks for releasing assets held by deceased customers, and will apply to current, savings, credit card and unsecured loan accounts.
It has been signed on behalf of Barclays, HSBC, Lloyds TSB, Halifax, Royal Bank of Scotland and NatWest.
Law Society President Lucy Scott-Moncrieff says: “This protocol unlocks the labyrinth of administration, costs and stress for grieving relatives by helping their solicitor to negotiate the different administrative procedures involved in winding-up an estate.
“Managing relationships with banks and building societies has long been a problematic aspect of probate practice. This new arrangement is a considerable achievement and we hope to see more banks participate in the protocol in the future.”
Anthony Browne, chief executive of the BBA, says: “The last thing people want when grieving is bureaucratic hassle between their banks and lawyers.”
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