Bank Statements for Probate & Estate Administration: The Challenge
Executors and solicitors handling probate need to review the deceased's bank statements to value the estate, identify debts, and distribute assets.
How BankScan AI Helps with Probate & Estate Administration
Convert the deceased's bank statements to Excel for fast estate valuation, identification of standing orders, direct debits, and outstanding payments.
How It Works
Upload your bank statement PDF
Supports all major banks. Date of death statement plus 6-12 months prior to identify regular commitments, standing orders, and direct debits to cancel of statements? No problem.
AI extracts every transaction
Our AI pulls out dates, descriptions, amounts, and balances — the Balance at date of death, standing orders and direct debits you need.
Use for probate & estate administration
Download a clean Excel or CSV file formatted for probate & estate administration. Date-of-death balance clearly stated, recurring payments listed separately for cancellation, all accounts of the deceased consolidated into one estate summary
Supported Banks
BankScan AI works with all major UK and US banks, including:
Why BankScan AI for Probate & Estate Administration
- Built for Probate & Estate Administration — Convert the deceased's bank statements to Excel for fast estate valuation, identification of standing orders, direct debits, and outstanding payments.
- Key data extracted — Balance at date of death, standing orders and direct debits payable, regular income sources, any joint account contributions, gifts made in the 7 years before death
- Deadline ready — IHT400 must be submitted within 12 months of death to avoid interest charges; probate grant cannot be issued until HMRC receives the IHT forms
Legal & Regulatory Context
Bank statements for probate & estate administration are typically required under: Administration of Estates Act 1925; Inheritance Tax Act 1984 sections 4 and 171; Non-Contentious Probate Rules 1987
- Typical timeframe: Date of death statement plus 6-12 months prior to identify regular commitments, standing orders, and direct debits to cancel
- Required by: HM Courts & Tribunals Service (for probate application), HMRC (for IHT400 inheritance tax form), and beneficiaries
What Data You Need for Probate & Estate Administration
When preparing bank statements for probate & estate administration, these are the key data points HM Courts & Tribunals Service (for probate application), HMRC (for IHT400 inheritance tax form), and beneficiaries look for:
- Balance — Balance at date of death
- standing — standing orders and direct debits payable
- regular — regular income sources
- any — any joint account contributions
- gifts — gifts made in the 7 years before death
Formatting Your Statements for Probate & Estate Administration
Getting bank statements right for probate & estate administration requires attention to specific formatting requirements:
- Date-of-death balance clearly stated, recurring payments listed separately for cancellation, all accounts of the deceased consolidated into one estate summary
- Deadline pressure: IHT400 must be submitted within 12 months of death to avoid interest charges; probate grant cannot be issued until HMRC receives the IHT forms
Prepare Statements for Probate & Estate Administration — Fast
IHT400 must be submitted within 12 months of death to avoid interest charges; probate grant cannot be issued until HMRC receives the IHT forms
Convert for Probate & Estate Administration — Free