Notifying us
First steps
In order for us to help you with the accounts and products held with us we will need to see certain documents. These documents can vary depending on the circumstances of the person who has died, the value of the accounts held with us and any other Lloyds TSB products which are held with us.
However there are some common rules that will apply in all cases:
- We will need to see certain documents in order to deal with the account’s of the person who has died. These documents may include will and codicil.
- We will need to see an original death certificate/coroner’s certificate, or a copy that has been certified by a solicitor or a member of staff at any of our branches.
- If the total value of the accounts of the person who has died exceeds £15,000, we will need to see the Grant of Probate before we can release the funds.
- In all cases, the executors, administrators or next of kin will need to complete a Notification of death form before we can release the funds held.
- If there is no will we will need the next of kin (or administrators if applicable) to complete a Notification of death form and provide standard identification for themselves i.e. passport/driving licence/utility bill, in order for us to close the accounts and release the funds held.
What to do next
When someone dies, various taxes or bills need to be paid or rebates redeemed. The most common are detailed below:
- Income tax – if the person who has died was working and paying tax, you need to let the relevant tax office know. Their employer will be able to tell you the tax office’s details.
- Inheritance tax – this is the amount paid on the balance of the estate over a certain threshold. If you’re married or in a civil partnership, you won’t have to pay tax on what you inherit from your spouse or partner.
- Capital gains tax – this may be payable if you inherit assets from the person who died and later sell them.
