Understanding the Financial Side

When someone close to you dies, there is so much to take in.

Alongside arranging the funeral, there are often questions about money, bank accounts, and what needs to happen next.

For many families, this can feel unfamiliar and overwhelming, especially at an already difficult time.

Please know that this is completely normal, and you do not have to work everything out straight away.

What happens straight away

When someone dies, a few things tend to happen in the background:

Banks and building societies are usually notified by the next of kin or executors and may freeze accounts. This is to protect the person’s finances, but it can sometimes come as a surprise to families.

At the same time, there may still be household bills, ongoing expenses, and of course, the cost of the funeral to consider.

Paying for the funeral

Most banks will allow funds to be released directly to the funeral director, even before probate has been granted.
This usually involves providing the bank with:

• A copy of the death certificate
• The funeral invoice

If there are sufficient funds in the account, the bank will often transfer the payment directly to us.

If you are unsure how to do this, we are always here to guide you through the process.

Notifying government departments

As well as contacting banks and organisations, there are also government departments that need to be informed.

Many families find it helpful to use a service called Tell Us Once.

This is a free service provided by the government, which allows you to report a death to several departments at the same time. This can include:

• HM Revenue & Customs (HMRC)
• The Department for Work and Pensions (DWP)
• The Passport Office
• The local council

You will usually be given a unique reference number for this service when the death is registered.

Using Tell Us Once can save you from having to contact each department individually, helping to make things a little simpler at an already difficult time.

Accessing bank accounts

Each bank has its own process, but there are some general guidelines that can be helpful.

Many banks have what is known as a probate threshold. This means:

• If the total balance held with that bank is below a certain amount (often around £25,000 to £50,000), they may release the funds to a next of kin or executor without requiring probate
• If the balance is above this amount, they will usually ask for probate before funds can be accessed

Every situation is slightly different, and each bank will confirm their own requirements.

What is probate?

You may hear the term probate mentioned during this time.

Probate is the process of dealing with someone’s estate after they have died.

If there is a will, the person named will usually apply for what is known as a Grant of Probate.

If there is no will, a close family member can apply for what is called Letters of Administration.

Both are, simply, ways of giving someone the legal authority to deal with the estate.

In many day-to-day conversations, people refer to both of these as “probate”.

When things feel uncertain

It is very common to feel unsure about what to do next, especially when it comes to finances.

You might be wondering:

• Who needs to be contacted
• Whether there is enough money in the estate
• How long things will take
• What your responsibilities are

These are all completely natural questions, and you are not expected to have all the answers.

You don’t have to work this out on your own

For the financial and legal side, we work closely with a trusted, family-run firm who, like us, take a personal, advice-first approach to supporting families after a bereavement.

Squiggle Consult is a Kent-based estate planning firm specialising in wills, lasting powers of attorney, and estate administration after bereavement. Founded on the belief that good advice makes a real difference, the team takes a personal, unhurried approach to supporting families through some of life’s more difficult moments.

Rather than simply processing paperwork, Squiggle takes the time to understand each family’s situation and explain what needs to happen — and why — in plain, straightforward language.

They can help you understand what needs to happen, talk through your situation, and guide you step by step at a pace that feels right for you.
If you would find it helpful, you can arrange a simple, no-pressure conversation. Please contact Squiggle directly on 01233 659796 or visit their website to book a consultation with one of their team.

Taking things one step at a time

We will take care of the funeral arrangements with you, and when you feel ready, the next steps can be gently put in place.