Supporting You Through Bereavement
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Supporting you through bereavement By your side BEREAVEMENT SERVICES When you lose someone close to you, it can be a very emotional time. This can make even the easiest task seem difficult. This guide is to help you through what you need to do. Our Specialist Bereavement Team are also on hand to talk you through each step and confirm what you need to do after telling us. We can help you sort out most accounts and products with a call on + 44 (1624) 641 711, 9am–5pm (UK time), Monday to Friday. THINGS TO DO FIRST Managing finances may not be the first thing 3 Check if there is a Will on your mind when you have lost someone; This will help with what you need to do next. however you may need to make some It may have details about the funeral and will financial arrangements fairly quickly. name the Executor(s). 1 Get a medical certificate If there is a Will in place, you’ll need to let the This will be given to you by the hospital, GP or Executors know straight away as they have coroner. You’ll need this to register the death. responsibility for dealing with the Estate. This includes telling any financial institutions of 2 Register the death and get a the death, and making sure any property held death certificate is secure. It’s a good idea to get a few copies of the If there is no Will in place, we can still talk death certificate. You will need to register about the next steps with you and what this the death at the Registration Office, in the means for you. country where death occurred. Find out more about when you need to do this on your local government website. 1 GET IN TOUCH Our Specialist Bereavement Team can help guide you through what you need to do with a call on + 44 (1624) 641 711 Lines are open 9am–5pm (UK time), Monday to Friday. Let us know once, we’ll do the rest The person who has passed away may have accounts or products you didn’t know about. These could be current accounts, savings accounts, mortgages, loans, insurance and others. If they have accounts and products within Lloyds Banking Group, we can let the companies below know with just one phone call to the Bereavement Team. There are a few companies that are part of Lloyds Banking Group that you’ll still need to tell separately. Intelligent Finance (IF): 0345 609 4343 Black Horse: 0344 824 8888 Lex Autolease: 0800 389 3690 2 APPLYING FOR PROBATE TO ADMINISTER THE ESTATE Probate is a document which says who If you’re the Executor or Administrator, there can deal with the money, property and are some things you’ll need to do, including: possessions – also known as the Estate. • Find out what accounts or products Probate may not be needed if the Estate they have. passes to the surviving spouse/civil partner • Find out what possessions they own. because it was held in a joint name. For • Arrange for the Estate to be valued. example, a joint savings account may not Make sure any property is secure. need Probate. • • Deal with any Inheritance Tax or other taxes In the Isle of Man, Guernsey and Alderney, and outstanding debts out of the Estate. each financial institution has its own rules. Distribute the Estate to the people entitled This means even if you don’t need to apply for • to it according to the law, either when there Probate for money held with us, you may still is no valid Will in place, or under the terms need to apply if money is held by organisations of the Will. other than Lloyds Banking Group. • Selling or transferring property Acting as an Executor or Administrator to beneficiaries. Whether there is a Will or not, you may have • Dealing with any assets abroad. been asked to administer the Estate, and be • Apply for Grant of Probate. unsure about what you have to do. This can • Pay for the funeral and bills. involve a lot of work and responsibilities, and this may go on for several months or more. If you can’t administer the Estate, then you can pay a firm of solicitors to do this for you. 3 REVIEWING THE ACCOUNTS What you need to provide Joint accounts Sole accounts For joint accounts where one of the Before we can help the Executor review the account holders has died, we need to be deceased person’s accounts, products and sent either a photocopy or certified copy services we need to check their identity. We of the death certificate. A certified copy also need to check that they have the right means the document is being confirmed to be given access to this information. This as a true copy of the original; this is signed means we will need some documents to be and dated by a professional person. You sent to us – these are shown in the table on can email this to us at techbankingIOM page 5. The enclosed form also shows who can @lloydsbankinternational.com certify documents. Once received, we will change the account to a We recommend wherever possible that you sole account in the remaining account holder’s send certified copies of these documents to name. There will be no other changes, and the us rather than the originals. We can copy and account and all regular payments will continue certify documents in our branches. to operate as normal. If you or the Executor are unable to visit a branch to certify your documents, then the accompanying ‘confirming your identity’ form lists other people who can also complete this certification. 4 1. Confirming the Executor’s identity We will need a certified copy of the Executor’s passport or driving licence. 2. Confirming the Executor’s right to access the account(s) Location of account(s) If the total balance of all If the total balance of all accounts is under £10,000 accounts is £10,000 or over (or currency equivalent) (or currency equivalent) Jersey • Bereavement form • Jersey Grant of Probate (we will supply this to you/ Will the Executor) • • Death certificate • Will • Death certificate If the total balance for all If the total balance for all accounts is under £25,000 accounts is £25,000 or over (or currency equivalent) (or currency equivalent) Guernsey, Alderney and • Bereavement form • Guernsey , Alderney or Isle of Man (we will supply this to you/ Isle of Man Grant of Probate the Executor) • Will Will • • Death certificate • Death certificate 5 If you need help to understand where the account(s) is located, then please call us. Send these documents to: Certified copies or originals of these documents need to be sent to: Lloyds Bank Corporate Markets plc Bereavement Team Villiers House 2 Victoria Street Douglas Isle of Man IM1 2LN What happens next? Once we receive these documents, we will get in touch with the Executor within 8 working days to talk through the next steps. We’ll also tell you when we will be posting any originals back. 6 REVIEWING THE ACCOUNTS How we deal with accounts and credit cards Sole account Joint account Regular payments • We’ll stop all regular payments. • Joint accounts will be transferred to the sole We can give you a list of the • remaining name and stay open. payments being made from the account(s) held with us. Taking money out • This will help you to decide • If you are the remaining name whether you need to set up on the account, you’ll be able to new payments. You should use it as normal. contact the person or original Regular payments company to make or cancel future payments. • Standing orders and Direct Debits will continue and the remaining account holder will be given a list of payments to check. 7 Sole account Joint account Credit cards • All regular payments to and • If you are a named cardholder from the credit card will stop. on the deceased’s account, then we will cancel all cards If the credit card is covered by • once we are notified about Payment Protection Insurance, the death. To protect the we’ll tell you how to make deceased’s Estate, you won’t be a claim. able to use the connected card. • If there’s no cover you’ll need to speak to our Specialist Bereavement Team to find out if there is any money in the banking or savings account to pay back the amount owed on the credit card. • You may need to find out if the Estate can pay back the credit card or not. • If there is a named cardholder on the account, they won’t be able to use the account. 8 Lloyds Bank Corporate Markets plc is authorised and regulated in the UK as the non-ring fenced bank of the Lloyds Banking Group. The Jersey, Guernsey and Isle of Man branches of Lloyds Bank Corporate Markets plc are each separately licensed as regulated deposit-takers in their respective jurisdictions. Lloyds Bank Corporate Markets plc is independent from Lloyds Bank plc, which is authorised and regulated in the UK as the ring fenced bank of the Lloyds Banking Group. For more information on ring-fencing visit international.lloydsbank.com/ringfencing Important Information Lloyds Bank Corporate Markets plc. Registered Office and Full details of the Scheme and banking groups covered are available principal place of business: 25 Gresham Street, London, EC2V 7HN. on the States of Jersey website www.gov.je/dcs or on request.