About the deceased funds at the bank in his or her savings account.
Claimant to Uplift Funds
Deceased funds at bank
Section 2 of the Deceased Persons Estates’ Administration (Amendment) Act, 2021, amends section 19 of the Principal Act to now read seven hundred and fifty thousand dollars instead of one thousand dollars.
So, if the funds at the bank is under seven hundred and fifty thousand dollars the claimant has an easy way out to receive that money. Section 3 of the Deceased Persons’ Estate Administration (Amendment) Act, No. 3 of 2021 provides for that process. The amendment rids the need to take steps to obtain letters of administration or probate as the case may be.
Upon application in writing by the claimant (surviving spouse or heir on intestacy of the deceased depositor), a bank manager may pay the claimant a sum not exceeding 750,000.00. No need for Letters of Administration or Probate, providing that the Claimant applies in writing being the surviving spouse, or heir on intestacy of the deceased depositor. If the depositor died testate, then as Executor.
The bank manager may require proof as to identity.