This practice note is relevant to any solicitor involved in the administration of estates.
Solicitors often experience difficulty and delay during the estate administration process in relation to assets held by banks and building societies.
This practice note contains protocols that set out procedures agreed with banks and building societies to clarify and speed up the estate administration process. This is a joint initiative with the Society of Trust and Estate Practitioners (STEP).
These are the first in a series of agreements with major banking organisations, aimed at helping the profession negotiate the different administrative procedures for releasing assets held, in order to wind-up an estate.
The following protocols have been agreed:
Nationwide protocol - 20 August 2009 (PDF, 36kb)
Lloyds TSB protocol - 18 January 2008 (PDF, 107kb)
HSBC protocol - 26 March 2008 (PDF, 183kb)
Note that these do not address professional conduct or legal requirements.
Further help
Practice Advice Service
The Practice Advice Service is a dedicated support line for members of the Law Society, which is able to help solicitors with a wide range of practice and procedure issues. The service is staffed by experienced solicitors with access to a wide range of information sources. The Practice Advice Service can be contacted on 0870 606 2522 from 09:00 to 17:00 on weekdays.
Visit the Practice Advice Service website.
Solicitors Regulation Authority
The Solicitors Regulation Authority regulates solicitors in England and Wales. It makes and enforces the SRA Code of Conduct 2011.