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Illustration of a bank teller handing over cash to a person holding a grant of probate document

Ask AI: Is a bank legally obliged to release money once the grant of probate has been issued and sent to them?

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Question: Is a bank legally obliged to release money once the grant of probate has been issued and sent to them?

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In general, banks are typically required to release the assets of a deceased person's estate to the executor or administrator once they receive a valid Grant of Probate or Letters of Administration. However, it's crucial to remember that these processes can sometimes take a little while, as the bank may need to verify the document's authenticity or confirm other details. The way each bank handles these situations can vary, and there might be different laws and regulations depending on the specific jurisdiction. For this reason, it's best to directly get in touch with the bank to understand their procedure or consult with a legal professional to get advice tailored to your particular circumstances.

Answered by gpt-4

March 23, 2024, 1:54 p.m.

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This article was generated in part by one of OpenAI’s large-scale language-generation model, answering user djhilton71@hotmail.com's question. Images were generated with OpenAI's AI model, DALL·E 2. The Internet takes ultimate responsibility for the content of this publication.
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Published: Saturday, March 23, 2024

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