warn
Member of DD Central
Curmudgeon
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Post by warn on Apr 3, 2024 12:13:38 GMT
Premium bonds and probate: Does anyone have experience of and can confirm roughly how long it takes NS&I to release PB holdings to the estate once they have received the necessary paperwork (including Grant of Probate as they require it) ? Thanks if anyone does. I could of course phone them, but its NS&I...... OK, I actually did just try and phone them. the message basically went something like: "We are extremely busy at the moment [OK, so that's same old same old], and so we cannot take your call. You could try online.....or call back later. Now 'eff off. <brrrrrrrr>" Brilliant. Should only be a couple of weeks or so. Have you seen www.nsandi-adviser.com/sites/nsandi-adviser/files/asset/literature/death-claims-brochure-print-friendly.pdf(esp. page 7)
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Post by Ace on Apr 3, 2024 12:16:08 GMT
Premium bonds and probate: Does anyone have experience of and can confirm roughly how long it takes NS&I to release PB holdings to the estate once they have received the necessary paperwork (including Grant of Probate as they require it) ? Thanks if anyone does. I could of course phone them, but its NS&I...... OK, I actually did just try and phone them. the message basically went something like: "We are extremely busy at the moment [OK, so that's same old same old], and so we cannot take your call. You could try online.....or call back later. Now 'eff off. <brrrrrrrr>" Brilliant. I last did this as an executor back in 2019, so may be different now, but I received payment within a week of submitting paperwork.
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dave
Member of DD Central
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Post by dave on Apr 3, 2024 12:24:05 GMT
Premium bonds and probate: Does anyone have experience of and can confirm roughly how long it takes NS&I to release PB holdings to the estate once they have received the necessary paperwork (including Grant of Probate as they require it) ? Thanks if anyone does. I could of course phone them, but its NS&I...... OK, I actually did just try and phone them. the message basically went something like: "We are extremely busy at the moment [OK, so that's same old same old], and so we cannot take your call. You could try online.....or call back later. Now 'eff off. <brrrrrrrr>" Brilliant. I filled in the paperwork, and ticked the box for them to repay after 12 months, and sent Probate on month 11 - resulting in 3 envelopes of cheques turning up for the previous 10 months winnings when I checked in middle of month 12, I found they had already re-paid the capital directly into my bank account the week before  then the final prizes turned up by post the week after
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Post by bracknellboy on Apr 3, 2024 12:36:59 GMT
Premium bonds and probate: Does anyone have experience of and can confirm roughly how long it takes NS&I to release PB holdings to the estate once they have received the necessary paperwork (including Grant of Probate as they require it) ? Thanks if anyone does. I could of course phone them, but its NS&I...... OK, I actually did just try and phone them. the message basically went something like: "We are extremely busy at the moment [OK, so that's same old same old], and so we cannot take your call. You could try online.....or call back later. Now 'eff off. <brrrrrrrr>" Brilliant. I filled in the paperwork, and ticked the box for them to repay after 12 months, and sent Probate on month 11 - resulting in 3 envelopes of cheques turning up for the previous 10 months winnings when I checked in middle of month 12, I found they had already re-paid the capital directly into my bank account the week before then the final prizes turned up by post the week after That's interesting: on two fronts. I didn't previously fill in paperwork to do anything. The reason I didn't is the paperwork even for the 'keep it invested' option asked for evidence of probate. My working assumption is that they have kept them invested, regardless (what else could they do ?) and the 'warrants' will have accumulated. They had sent me notice that they had 'undone' an auto investment (and converted to warrants) that had occurred due to winnings between passing and notification of, along with that said paperwork.
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dave
Member of DD Central
Posts: 86
Likes: 38
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Post by dave on Apr 3, 2024 13:17:15 GMT
I filled in the paperwork, and ticked the box for them to repay after 12 months, and sent Probate on month 11 - resulting in 3 envelopes of cheques turning up for the previous 10 months winnings when I checked in middle of month 12, I found they had already re-paid the capital directly into my bank account the week before then the final prizes turned up by post the week after That's interesting: on two fronts. I didn't previously fill in paperwork to do anything. The reason I didn't is the paperwork even for the 'keep it invested' option asked for evidence of probate. My working assumption is that they have kept them invested, regardless (what else could they do ?) and the 'warrants' will have accumulated. They had sent me notice that they had 'undone' an auto investment (and converted to warrants) that had occurred due to winnings between passing and notification of, along with that said paperwork. thinking about it, you could be correct, memory here a bit fuzzy - blame old age Dave
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Post by wildlife2 on Apr 3, 2024 15:27:08 GMT
£100 this month.
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agent69
Member of DD Central
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Post by agent69 on Apr 3, 2024 16:25:30 GMT
£75 for me.
Good job that stocks and shares have performed well in the last 6 months. Unfortunately CGT, which was £12k in 2022/23, is only £6k in 2023/24 (and £3k in 2024/25) so it all needs a bit of managing.
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Post by bracknellboy on Apr 5, 2024 10:40:17 GMT
£125 - I remain somewhat behind the curve for this year.
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travolta
Member of DD Central
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Post by travolta on Apr 5, 2024 20:51:53 GMT
Been away in Brussels, where the cost of living seems off the scale!
Back now to find have won nothing this month(poo).
1/2 has won £425 to cover his Eurostar bill.
Better luck next month everyone.
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Post by mostlywrong on Apr 5, 2024 22:25:27 GMT
Thanks for keeping us all informed about NS&I and probate.
I should have guessed that probate would be required to release the funds held by NS&I (in whatever form).
I just had not made that final connection!
My working assumption has always been that the first death would not require probate because everything passed to the spouse.
And, by the looks of it, I was wrong.
Again, thanks.
MW
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Post by bracknellboy on Apr 6, 2024 7:21:54 GMT
Thanks for keeping us all informed about NS&I and probate.
I should have guessed that probate would be required to release the funds held by NS&I (in whatever form).
I just had not made that final connection!
My working assumption has always been that the first death would not require probate because everything passed to the spouse.
And, by the looks of it, I was wrong.
Again, thanks.
MW
Hi MW, actually I can't comment on first death situation, as I'm dealing with second death and there were no PBs in my mothers name on first death. On second death they seem adamant on it. The website does have the statement: "We will let you know if we need a Grant of Representation (also known as a Grant of Probate or Grant of Letters of Administration) once we receive your completed form. We may ask for this if the customer's total NS&I savings are £5,000 or over." So total supposition on my part, but its possible that on first death if the value is low enough they won't require it, or maybe not require it all if the name of the receiving account is in the name of the spouse. Short answer is I don't know, but its possible you are in the process of finding out.
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ceejay
Posts: 975
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Post by ceejay on Apr 6, 2024 8:40:08 GMT
Hi MW, actually I can't comment on first death situation, as I'm dealing with second death and there were no PBs in my mothers name on first death. On second death they seem adamant on it. The website does have the statement: "We will let you know if we need a Grant of Representation (also known as a Grant of Probate or Grant of Letters of Administration) once we receive your completed form. We may ask for this if the customer's total NS&I savings are £5,000 or over." So total supposition on my part, but its possible that on first death if the value is low enough they won't require it, or maybe not require it all if the name of the receiving account is in the name of the spouse. Short answer is I don't know, but its possible you are in the process of finding out. It was a few years back, in 2017, but when I did this I got the repayment within a very short time of having sent off the form (£5000) and another cheque for unclaimed prizes just a few days later. I guess I just sneaked under their bar for having to show probate. (This was a second death scenario). C.
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adrianc
Member of DD Central
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Post by adrianc on Apr 6, 2024 9:13:34 GMT
Thanks for keeping us all informed about NS&I and probate.
I should have guessed that probate would be required to release the funds held by NS&I (in whatever form).
I just had not made that final connection!
My working assumption has always been that the first death would not require probate because everything passed to the spouse.
And, by the looks of it, I was wrong.
Again, thanks.
MW
Hi MW, actually I can't comment on first death situation, as I'm dealing with second death and there were no PBs in my mothers name on first death. On second death they seem adamant on it. The website does have the statement: "We will let you know if we need a Grant of Representation (also known as a Grant of Probate or Grant of Letters of Administration) once we receive your completed form. We may ask for this if the customer's total NS&I savings are £5,000 or over." So total supposition on my part, but its possible that on first death if the value is low enough they won't require it, or maybe not require it all if the name of the receiving account is in the name of the spouse. Short answer is I don't know, but its possible you are in the process of finding out. £5k is a fairly general threshold for not requiring probate, £20k in total estate value.
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Post by bracknellboy on Apr 6, 2024 9:28:43 GMT
Hi MW, actually I can't comment on first death situation, as I'm dealing with second death and there were no PBs in my mothers name on first death. On second death they seem adamant on it. The website does have the statement: "We will let you know if we need a Grant of Representation (also known as a Grant of Probate or Grant of Letters of Administration) once we receive your completed form. We may ask for this if the customer's total NS&I savings are £5,000 or over." So total supposition on my part, but its possible that on first death if the value is low enough they won't require it, or maybe not require it all if the name of the receiving account is in the name of the spouse. Short answer is I don't know, but its possible you are in the process of finding out. £20k in total estate value. not really. Most financial institutions you need to add a 0 onto that. £50 is the norm for banks etc. NS&I is the outlier, not the norm.
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registerme
Member of DD Central
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Post by registerme on May 2, 2024 8:17:49 GMT
A big fat zero.
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