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Probate limits

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  • Probate limits

    Hello,

    We’ve been told that all financial organisations are bound by the Administration of estates (small payments) Act 1965 and that it has a probate limit of £5k. However, they all seem to ignore this supposed statutory requirement and set their own, often high, limits for when they will pay out to executors without probate (eg Barclays bank, NS&I, Nationwide building society, Spanish Santander, etc). What gives them the authority to ignore the law?

    Thanks
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