Quote Originally Posted by Half-Pint View Post
Keep in mind that the executor will need funds to do this. The process of getting funds paid from the deceased's account to an estate late account can take time.

Recently I have noticed certain banks seem to take as long as possible. I suspect two reasons:

1) The banks also wind up estates, if attorneys and everyone else other than banks takes ages to have funds paid into an estate late account our service looks very poor and the banks' service looks excellent when they wind up an estate. They continue to put the squeeze on the rest of us and we are left fighting over the scraps the banks don't want.

2) Often people will have a cheque account with a small credit balance and a credit card with a debit balance. The cheque account is set up with a debit order for the credit card's minimum monthly instalment. The bank will delay providing the necessary until the credit balance on the cheque account has been consumed by paying the minimum monthly payment on the credit card without actually settling the debit balance. One particular bank is very prone to this, in fact one might say its their standard operating procedure
It took 4 months to sort when one of my parents died. Luckily extra funds were available, so no real stress. A friend, who lost her hubby suddenly was also married COP, and her account has frozen for 6 months. Her kids are overseas, and this posed quite a big challenge for her financially.

Another friend changed their contract from COP to ANC with Accrual when they saw the hassles COP caused when one of their parents passed away. It was not cheap, was over R30k about 5 years back.