Losing someone close to you is very difficult and there is a lot to do to sort out their affairs. It is important to do things only when you are ready and not feel pressurised to get everything done immediately.
If you have recently lost someone close to you and they had accounts with us, but you don’t feel ready to speak to anyone yet, please use this form to let us know the details. We can then put a stop on any letters, email or texts and put a freeze on the account.
To fill out the form:
- You must be the next of kin, executor or administrator of the estate
- You must know the account details of the person who has died
Once you are ready to formally notify us of the members death, please send the customer’s death certificate with our permission for us to run an electronic identity search. You can give us permission using this form.
Alternatively, you can send two forms of identification. The documents that we accept are listed here: Savings accounts ID requirements
We will then be in touch with the next steps
Let us know and we will advise what documentation we need. You can then advise who you want the funds to be paid to.
We will make the process as easy as possible for you. Once you have told us of the death, we will freeze the account. This means there will be no payments in or withdrawals out of the account (although interest will still be earnt). We’ll let you know what documents we need and aim to sort everything out as quickly as possible. We will tell you how long we expect the process to take, what to expect and when, and what you will need for the next steps.
If the deceased is your spouse or civil partner you can inherit an additional ISA allowance under the Additional Permitted Subscription (APS) allowance. The APS doesn’t count towards any current year ISA subscriptions that you have.
The APS has to be done within three years of the date of the death or 180 days after the administration of the estate is complete (if this is later). Please note, we currently cannot accept Additional Permitted Subscriptions into an Ecology ISA account.
An ISA stays tax free until:
• The deceased’s estate is completed
• The account is closed
• The third anniversary of the account holder’s death
We can withdraw money from the account to pay for funeral expenses and Inheritance Tax. We will need an invoice from the funeral directors to pay for the funeral costs. The payment will be made directly to them.
If you need to pay an Inheritance Tax bill, we will need a completed HMRC form IHT423.
Once we have received all the required documents, it usually takes 14 days to get all the paperwork completed to close the account. We would aim to release the payment for the funds to a UK bank account within 14 days.
A statutory declaration must be signed in front of a solicitor and confirms that you are entitled to the funds. It usually costs in the region of £10 – £20. Any solicitor can complete this for you.
