During a period of bereavement, there are many practical matters to take care of which can be overwhelming. We will guide you through the process to ensure it is as straightforward and timely as possible. The information on this page will help you to understand the steps that need to be taken in relation to any accounts held by a Dudley Building Society member.

What to do when someone passes away

One of the first things that needs to happen is the death must be registered. While the exact process will depend on the location and nature of the death, registration normally needs to occur within 5 days of the death in England, Wales and N. Ireland and within 8 days of the death in Scotland.

If you’re not sure how or where to register the death, please contact The Bereavement Advice Service on 0800 634 9494  It is important to understand if the deceased left a will and who is the next of kin in accordance with the ‘laws of intestacy’.

How to let us know

When a Dudley Building Society member passes away, you can let us know by:

•    Visiting a local branch 

•    Calling us on 01384 231414 and speaking with one of our advisers (open 9am - 5pm Monday to Friday and 9am -12pm Saturday)

•    Notifying us by email to [email protected]

We will require the following to be provided prior to releasing any account information:

•    The original death certificate or a certified copy

•    Names and contact details of the person(s) administrating the deceased’s estate

•    If you have chosen a third party to act on your behalf, we will require the solicitor’s/legal entity’s contact details

Once we have received notification that a member has passed away, we will apply a hold to the account. This means no further transactions will be permitted and access to the Online Service will be suspended.

It is important to note, any legal documents which have previously appointed an attorney (for example Lasting Power of Attorney) will no longer be enforceable.

What happens to the deceased’s accounts?

Savings accounts

If you are a joint account holder with the deceased, the account will automatically be transferred to a sole account in your name. The account number will not change. You will still be able to operate the account in accordance with the specific product terms and conditions. 

Any regular bank payments or standing orders will not be cancelled. If you want to make any changes, you will need to contact the organisations where the regular payments are being sent from.

If the deceased held a Cash ISA/JISA; tax-free interest will be credited up to the date of death. If the account held is an APS ISA or a JISA, the account will be transferred to a non-ISA account as the account is no longer eligible to receive tax-free interest after the date of death. Cash ISA’s held which have not been closed within three years from the date of death will also be transferred to a non-ISA account, as the account will not be eligible to receive tax-free interest after this period of time. Any further accrued interest will be paid upon account closure or as part of the capitalisation as set out in the Specific Conditions.

For any accounts held in the deceased’s name only, we will need to see some documentation before we can close the accounts or make any changes. The type of documentation we need depends on the value held with the Society. Please see the section 'What information do you need?' below, for more details. 

Mortgage accounts

If the deceased held a mortgage account with the Society, the joint account holder or personal representative must contact the Mortgage Servicing Team immediately. If the mortgage is held in the sole name of the deceased, we will temporarily suspend the mortgage payments to allow time for the estate executor(s) to apply for the necessary grant of representation.

It is important to keep in contact with our Mortgage Servicing Team and to keep us informed and updated on the progress of the deceased’s estate. 

It is important to think about how you plan to repay the outstanding mortgage balance. Usually this is by using proceeds from the sale of the property. If you have concerns that the value of the estate is not enough to repay the mortgage, please contact the Mortgage Servicing Team immediately.

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How to close any savings accounts held by the deceased

A savings account can be closed once the documentation outlined in section 'What information do you need?' below has been provided. 

The account(s) held by the deceased will be closed via cheque made payable to the personal representative(s)/Next of Kin. Funds held in the deceased’s account(s) can also be transferred to existing/new Dudley Building Society savings accounts.

If you are local to a branch, you may prefer to make an appointment to discuss the matter face to face with one of our advisers. 

Alternatively, the documentation can be sent to us by post to Dudley Building Society, 7 Harbour Buildings, The Waterfront, Brierley Hill, West Midlands. DY5 1LN.

If the deceased held a Cash ISA, please also refer to section below titled 'Would I be eligible to ‘Additional Permitted Subscriptions’ (APS)'?

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Can I use the funds held within the savings account to pay towards certain expenses?

There are certain expenses that can be paid using the savings held within the deceased's savings account. 

Funeral Costs 

You will be able to make a withdrawal from the deceased’s account(s) to settle the funeral costs. We will require the original funeral invoice to be supplied and written authority from the personal representatives/Next of Kin. A cheque will be withdrawn from the deceased’s account made payable to the funeral directors. Any additional funeral expenses, e.g. costs associated with the wake/flowers cannot be included in this withdrawal.

Inheritance Tax

Dudley Building Society participates in the HM Revenue and Customs (HMRC) Inheritance Tax Direct Payment Scheme. Should you wish to make a withdrawal for Inheritance Tax purposes, we will require a completed IHT400 form. Please contact the HMRC Inheritance Tax Helpline on 0300 123 1072 for further details. 

Probate/Statutory Declaration Form 

You will be able to make a withdrawal from the deceased’s account(s) to pay for the application for Probate or the verification of the Statutory Declaration by a Solicitor. The original payment request will need to be supplied in order to carry out these instructions. A cheque will be withdrawn from the deceased’s account made payable to either a solicitor or the probate office.

What information do you need?
Would I be eligible to ‘Additional Permitted Subscriptions’ (APS)?

In accordance with the terms and conditions of our Cash ISA, tax-free interest will be credited to the account up to the date of death. HMRC now allows Additional Permitted Subscriptions (APS) to be made by spouses or civil partners when an account holder passes away.

What is an Additional Permitted Subscription (APS)?

•    An APS is an additional allowance that can be used in addition to your normal annual ISA allowance

•    The APS is not something which can be transferred to another person, it is solely meant to be utilised by the spouse or civil partner of the deceased

•    The APS does not apply to Junior ISAs

•    The APS in no way affects the administration of the deceased’s estate after death

•    The ISA(s) held by the deceased can be closed as outlined in the above section 'How to close any savings accounts held by the deceased'

Who is eligible for an APS?

•    Anyone whose spouse/civil partner has died on or after 3 December 2014 and who:

•    Were married or in a civil partnership and living with the deceased as defined by Section 1101 of the Income Tax Act 2007, at the time of death (i.e. were not separated under an Order of a Court or a deed of separation and were not separated in circumstances where the separation was likely to become permanent)

•    Is aged over 16

•    The allowance is not limited to UK residents. Customers who have moved abroad but still hold an ISA(s) in the UK will still be eligible to claim the additional allowance

Do any time limits apply?

Yes. Any APS allowances must be claimed within 3 years of the date of death or, if longer than 3 years, within 180 days after completion of probate.

How can I find out whether I have an APS and how much it is?

If the deceased held any ISA accounts with the Society, we will explain to you what we need to see as evidence of your eligibility to claim the APS. Once we have received this, we will provide you with information about the additional allowance.

What types of APS subscriptions are possible?

The surviving spouse or civil partner will be able to open a new APS Cash ISA, to which they will be able to contribute their additional allowance. Any APS allowances cannot be added to existing Cash ISA’s held by the spouse with Dudley Building Society.

How do I apply to use my APS?

The surviving spouse or civil partner will need to complete an application form which is available from any of our branches or by calling us on 01384 231414. This form will serve as a declaration for the additional subscriptions you make when the new account has been opened. Please be aware that we will need you to complete a new declaration every time money is added.

Can I transfer my APS to another bank or building society?

Yes, please ask us for details about our transfer process. Once a transfer has been initiated we and the other bank/building society have 30 days to exchange information and complete the transfer. Please note that once you have transferred an additional allowance you cannot transfer it again.

You are able to hold APS allowances with more than one bank or building society if your spouse held multiple ISAs with different organisations.

When I have made an APS subscription, can I transfer the funds held in the ISA?

After you have added funds to an APS allowance, you may transfer the funds out to another ISA or bank account via the usual methods. Please note that this only applies to the funds you have invested; not the additional allowance. Any remaining allowance that has not been utilised must remain with the Society.

Lost Accounts

If you are trying to locate the accounts or savings of the person who has passed away, visit My Lost Account to track them down for free. 

Glossary

Estate - the monetary and material assets owned by the deceased at the time of death.

Personal Representative - person(s) who is acting on behalf of the deceased.

Beneficiary - person(s) or entities who will receive the funds released from the deceased estate once settled.

Executor - person(s) or entity which have been named on the probate documentation as being responsible for the settlement of the deceased’s estate.

Laws of Intestacy / Next of Kin - You can only be deemed a next of kin in order of priority below;

1. Lawful husband / wife

2. Lawful / child / children

3. Lawful grandchild / grandchildren

4. Lawful father / mother

5. Lawful sibling

Letters of Administration - granted by a Surrogate Court or probate registry to appoint appropriate people to deal with a deceased person’s estate, where property will pass under Intestacy Rules or where there are no executors living (and willing and able to act) having been validly appointed under the deceased’s will.

Probate - is a legal document. Receipt of probate is the first step in the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person’s property under a will.

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