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This petition was submitted during the 2019 to 2024 Parliament

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Closed Compulsory for an Executor to use a 3rd party bank account for all Estate funds

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Make it a compulsory legal requirement for an Executor of a Will to use a third party bank account for all Estate funds and Assets to provide protection for all Beneficiaries of the Estate.

There is currently very little to no legal protection for the Beneficiaries of a deceased’s Estate. By making this a legal requirement a layer of financial protection is enforced between the 2 parties, Executor and Beneficiary, to ensure the deceased’s final wishes are carried out correctly. The third party account should be in the name of a registered Solicitor/Solicitor Firm who holds a professional position of trust.

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    This petition will stay open until 1 June 2023.