Letting Agents + Probate & Estate Administration: The Challenge
As letting agent, preparing bank statements for probate & estate administration is a common but time-consuming task. 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 Letting Agents with Probate & Estate Administration
Convert your client money account statements to Excel for fast reconciliation of rent receipts, deposit transfers, and management fee deductions. For probate & estate administration specifically, BankScan AI extracts Balance at date of death, standing orders and direct debits payable, regular inc automatically.
How Letting Agents Handle Probate & Estate Administration
When preparing bank statements for probate & estate administration, letting agents need to Letting agents collect rent from tenants into client money accounts, deduct management fees, pay landlords their net rent, handle deposit protection s. BankScan AI automates the data extraction step.
Key terms you'll encounter: client money protection, landlord statement, tenant deposit scheme, management fee.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Date of death statement plus 6-12 months prior to identify regular commitments, standing orders, and direct debits to cancel of statements for probate & estate administration.
AI extracts what you need
Our AI extracts Balance at date of death, standing orders and direct debits — formatted for letting agents workflows.
Complete your probate & estate administration work
Download Excel files ready 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:
Features for Letting Agents — Probate & Estate Administration
- Built for Letting Agents — Saves 3-4 hours per week on client money account reconciliation for a letting agent managing 100+ properties
- Software compatible — Output works directly with Goodlord, Arthur Online, PayProp
- 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
Compliance: Letting Agents + Probate & Estate Administration
When letting agents prepare bank statements for probate & estate administration, specific compliance requirements apply.
- Letting agents must comply with Client Money Protection (CMP) schemes, which are now mandatory. The Tenant Fees Act 2019 restricts chargeable fees. Deposit protection within 30 days is a legal requirement. ARLA Propertymark members face additional auditing of client money accounts. Anti-money laundering rules apply to property transactions.
- Legal basis: Administration of Estates Act 1925; Inheritance Tax Act 1984 sections 4 and 171; Non-Contentious Probate Rules 1987
Probate & Estate Administration — Built for Letting Agents
IHT400 must be submitted within 12 months of death to avoid interest charges; probate grant cannot be issued until HMRC receives the IHT forms
Try Free — Letting Agents + Probate & Estate Administration