To help people cut down on the paperwork and the hassle, The “Death Notification Service” has been launched...
After a loved one passes away, managing their estate can be a lengthy, daunting and stressful process, especially at such an emotional time. Even seemingly simple tasks can become over-complicated, involving multiple banks, loan providers and government institutions.
To help people cut down on the paperwork and the hassle, a new service has been launched. The “Death Notification Service” will allow people to alert up to six financial providers with a single, online form.
How will it help?
When an Executor is named in the will of a deceased, they will be legally responsible for identifying all the assets and distributing them to any named beneficiaries, in accordance with the deceased’s wishes.
An Executor also needs to tie up any loose ends, which usually involves contacting any relevant financial institutions, to inform them that the person has died. This process can turn out to be quite complex, even for a small estate.
This is where the newly introduced Death Notification Service comes in. It allows someone to submit a single, online form to notify several financial institutions all at once. A number of big high street banks have already signed up to the free new service, including Barclays, HSBC, Lloyds Bank, Nationwide, RBS and Santander UK.
The initiative aims to simplify the process of informing organisations that someone has died, following an industry-wide effort to improve the experience of having to deal with this process during times of bereavement.
How does it work?
To take advantage of this service you will be required to provide the full name, date of birth, date of death and the last address of the deceased. The online portal will also allow you to include the person’s account details, although this isn’t strictly necessary.
Banks will try to identify all the accounts of the deceased, not just the accounts that are already known about – which is another benefit of the service.
The banks will have to verify your identity, so you’ll be required to provide information about yourself, such as your full name, address and date of birth. This information will then have to be verified and banks will also confirm the death by checking the General Records Office.
Once the online form is completed and sent off, you can expect to be contacted within 10 days by each financial institution, to discuss the next steps in the process. Family members, neighbours, carers and other professionals are all able to use the service.
UK Finance is currently working with many more banks and building societies to get them signed up to the service. They hope that the simple, one-step process will help to alleviate the stress of having to notify multiple organisations following the death of a loved one.
In order to access any accounts of the deceased, you will normally need to obtain a Grant of Probate.
Here at Get Probate we also want to improve the experience of having to deal with this process. Our aim is to make things as easy and affordable as possible for anyone who needs to get probate.
Our probate service is quick and very affordable. This means that you can concentrate on other matters at this difficult time.