Collecting In Assets After Probate: The Practical Order

Stage 1: Bank and building society accounts

Bank and building society accounts are usually the quickest assets to collect. Write to each bank (or use their online bereavement notification process) providing:

• A certified copy of the grant of probate
• A certified copy of the death certificate
• The account number(s)
• The executor's name and the estate bank account details

Banks typically close the account and transfer the balance to the estate account within 2–4 weeks. Some banks do this faster; larger amounts may take longer due to internal sign-off requirements.

Death Notification Service: The DNS (deathnotificationservice.co.uk) allows one notification to reach multiple banks simultaneously. This saves significant time for estates with multiple banking relationships.

Cash ISAs and savings accounts

The ISA wrapper ceases on death — the account becomes a standard savings account. The surviving spouse or civil partner may be eligible for an "inherited ISA allowance" — an additional ISA allowance equal to the value of the deceased's ISA. They should apply for this from the ISA provider.

The balance is collected in the same way as a bank account, using the grant of probate.

Stage 2: Investments and shares

Investment portfolios, unit trusts, and shares take longer to collect because they need to be either sold (liquidated) or transferred in specie to beneficiaries. The process depends on where the investments are held:

• Stockbroker platform accounts (Hargreaves Lansdown, AJ Bell, etc.):Notify the platform with the grant of probate. They will either transfer the portfolio to an executor account or liquidate it, depending on your instruction.
• Certificated shares: Require share transfer forms (stock transfer form) completed by the executor and submitted to the company's registrar. This can be slow — allow 6–8 weeks.
• Stocks and Shares ISAs: Must be liquidated and the cash transferred — you cannot transfer ISA investments directly to another ISA without cashing out. The surviving spouse may claim an inherited ISA allowance.

Stage 3: Life insurance and protection policies

Contact each insurer with the death certificate and policy documents. For policies written in trust, the claim is made by the trustees/beneficiaries directly — the proceeds do not form part of the estate. For policies in the estate, the insurer will require the grant of probate before releasing funds. See our endowment policy guide for more detail.

Stage 4: Pension death benefits

Pensions require separate claims from each scheme or provider. Contact each scheme with the death certificate and, where needed, the grant of probate. Expression of wishes forms direct trustees to the preferred beneficiary — the funds may not come through the estate at all. See our frozen pension guide and the claiming pensions guide.

Stage 5: Property

Property is typically the longest and most complex asset to deal with. Start the process as early as possible:

• Instruct an estate agent for any property that will be sold — marketing can begin before the grant is received
• For property being transferred to a beneficiary, use an AS1 assent form — see our AS1 assent guide
• Check for any charges (mortgages, equity release) that must be redeemed on sale

For the full property sale process, see our selling a probate property guide.

Other outstanding income

Check for and collect:

• Wages or salary owed to the date of death
• Tax refunds from HMRC (from the final tax return)
• Rental income received after death (during administration)
• Premium Bonds — notify NS&I; they will pay out the prize fund balance and any outstanding winnings
• Any loans the deceased made to others

For the complete post-grant checklist, see our what to do after grant of probate guide. For the full administration context, see the estate administration checklist, complete UK probate guide 2026, and applying for probate guide. For distributing assets after collection, see our distributing the residuary estate guide. Farra can help — get started here.