Wise - transfer after death

Hi

We have had a very recent death in the family (within the last 24 hours). The family member lived on their own.

The funeral company handling the process has advised that we transfer the contents of the deceased's Wise account into our account, as there will be future costs incurred whilst probate is sorted (bills, home/community costs, legal costs etc,).

The family member did pass all account details over to us a while ago when they were diagnosed as terminally ill - however we're very hesitant to transfer anything in case it is considered "fraud".

I'm wondering if anyone else has had similar experience, and whether the advice given by the funeral company is "legitimate" or "normal".

The company is well known and has been recommended on the forum on a number of occasions.

Thanks

Hi,

To help, are you saying the ''funeral company'' or the solicitors handling probate and the estate?

If the former I would say that would not be the correct thing to do and if the latter that would be standard procedure.

Hope that helps.

Kind regards

Paul

It may depend where the family member died - was it in UK or Spain. Different laws may apply depending. Is the bank account a UK one or a Spanish one. Does anyone in your family hold power of attorney?

POA is null and void once the person passes. Plus you have to show a statement of how much was in the account at time of death, then that's what you have to declare for inheritance. So somebody dies on 12th with 30k in the bank, on 13th it's wiped clear you'll still be liable for that 30k that's how I see it. You have to get the money out before they die surely??

SC17 wrote:It may depend where the family member died - was it in UK or Spain. Different laws may apply depending. Is the bank account a UK one or a Spanish one. Does anyone in your family hold power of attorney?

Agree! money out before they die over a period of time,
Preferably into a uk joint account, then the survivor wins.