FiL died and MiL has to deal with premium bonds. A phone call to NS&I seemed to say that she needs to spend about £3k to get things sorted. All sorts of paperwork being witnessed and signed by a sheriff.
I can't believe that's true.
Has anyone experience of this? Website seems simple but there's multiple pages I can't get to without filling the previous.
I don't remember it being anything like that when Mrs GD did the MILs a few years back.
I see the word "sheriff" and guess you're in Scotland? I should point out we are (a long way) south of the border so maybe the odd different legality about it but not sure it should be £3000 different.
That doesn't sound right... maybe call again and speak to someone else..
I don't think they are transferable, but the exectutor of the estate can cash them out, and the money goes into the general estate account like any other accounts.
https://www.trustestate.co.uk/learn/how-to-claim-premium-bonds-after-someone-dies
Ok I’ve not dealt with NS&I but there is a process for administering an estate in Scotland which involves the sheriff court but from memory not a sheriff actually doing anything and it doesn’t cost much (or possibly anything).
Just to add, i don't recall having such issues, using this form: https://forms.nsandi.com/gateway/online-forms/index#/form/bereavement
Here’s the forms and details for getting confirmation (equivalent to probate) in Scotland: https://www.scotcourts.gov.uk/taking-action/dealing-with-a-deceaseds-estate-in-scotland/guide-to-dealing-with-a-deceaseds-estate-in-scotland/
sheriff court staff are doing this regularly and if you turn up reasonably organised and are polite seem to be helpful.
I don't think they are transferable, but the exectutor of the estate can cash them out, and the money goes into the general estate account like any other accounts.
Was my experience three years ago in England. No fees, but they had to be cashed out and the money went to the estate.