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Guides

Deceased Investor

When you lose someone close to you, it is a highly stressful time for those left behind, and sorting out finances is usually one of the last things on a bereaved person's mind. Kuflink acknowledges these difficult circumstances and is therefore committed to making the required dealings as simple and straightforward as possible for you. While it is a difficult time, Kuflink also has a responsibility to ensure that we only take instructions from a person that is authorised to deal with matters on behalf of the deceased investor's Estate and to ensure that we are not releasing information/funds to a person without entitlement. With this in mind, we will require some Identification from the executor/executrix for the deceased.

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When Informing Us Of A Death Of An Investor We Will Need The Following

Kindly post the following documents to 21 West Street Gravesend, Kent DA11 0BF. Alternatively, use post or hello@kuflink.com to send the following documents to us.

  • Certified copy of the Death Certificate.
  • Grant of Probate (if available at the time).
  • Certified copy of the Will or, for Intestate cases: a letter from an immediate family member stating their relationship and confirming their need to access financial information to apply for ‘Letters of Administration’.
  • Certified copy of two forms of Photo ID of the executor/executrix (accepted documents are listed on the AML attachment): AML for UK Residents (/images/blog/migrated/2024/09/aml-for-uk-residents-v3.pdf) or AML for overseas residents (/images/blog/migrated/2024/09/aml-for-overseas-residents.pdf).
  • Completed Bereavement instructions form (/images/blog/migrated/2024/11/Bereaved%20Instruction%20Form%2008112024.pdf).

What Options Do You Have With Funds In Account?

Any personal data that is provided to us will be processed in accordance with applicable laws and regulations, including the General Data Protection Regulation (“GDPR”). Our privacy notice provides more information about how we use the personal data and can be found on our website or is available upon request.

Wallet Funds

In the event that the deceased Investor has funds held in his/her wallet, these funds will be sent to the nominated bank account held on account. If this bank account is no longer active, executor/executrix will need to provide bank account details (Statement) to a member of the Investor Relations team. All funds will then be sent to this bank account once verified.

Live Investments

In the case of live investments, there are 3 options. Please note that Select/Select IF-ISA investments in default cannot be liquidated. Funds will only be repaid once the loan redeems. No fees will apply.

  • Let all investments mature naturally. On maturity, funds will be returned to wallet and then returned to nominated bank account.
  • Sell Select Invest loan parts via Kuflink’s Secondary Market. There is no guarantee that loan parts will be sold and there is a 1% sellers fee.
  • Liquidate portfolio with Kuflink for a 2% or £500 fee whichever is higher. This is at Kuflink’s discretion and must be approved by Directors.

IF ISA Investment

If the deceased investor holds an IF-ISA investment, we can arrange for a surviving spouse or civil partner’s yearly ISA subscription be increased by the value of the deceased’s IF-ISA investment with Kuflink but they will also need to have a Kuflink IF-ISA investment.

You will need to complete the Additional permitted subscription form (/images/blog/migrated/2024/09/170157.00-aps-v214012021.pdf) in order to do this, please contact our Investor relations team if you have any queries on this.

Helpful Documents

The following documents may help you understand the probate and estate administration process.

  • What is the process of Probate (/images/blog/migrated/2024/09/what-is-the-process-of-probate.pdf).
  • Intestacy Rules (/images/blog/migrated/2024/09/instestacy-rules.pdf).

Frequently Asked Questions

How do I get a death certificate?

The death certificate is issued by the Registrar of Births, Deaths, and Marriages. When you register a death, you can apply for same. Please see our Useful Contacts section for details of how to obtain a death certificate.

What does an executor do?

An executor is a person named in the deceased’s will to carry out his/her instructions on death. There may be more than one executor. Their job is to apply for the Grant of Probate, carry out instructions for funeral arrangements, pay any outstanding debts and distribute the assets as per the will of the deceased.

What if there is a Will?

If the person who has died leaves a Will, the person or people named as executors act as personal representatives of the person who has died and take legal responsibility for carrying out the instructions in the Will and dealing with the money and property, known as the estate. In Scotland the personal representatives are known as executor-nominate when there is a Will.

What if there is no will?

If somebody dies without a valid will, they are said to have died “intestate”. An administrator is appointed in this case. The estate of the deceased typically passes to the deceased person’s next of kin as set out in the Succession Act 1965. You may need to engage the services of a solicitor where the deceased has died intestate.

Do I need to obtain the services of a solicitor?

Only you can decide how much help you may need. This may depend on the size of the estate and the type of assets of the deceased. Larger and more complex estates may need more professional support.

What is Probate?

It is a formal legal process which authorises someone to deal with a deceased person’s estate (that is, property, money, and other possessions owned by the deceased at the date of death). The authority is given in the form of a document called a grant. Please see our Useful Contacts section for details of the Probate Office.

How long does it take to release the funds in a deceased account?

This depends on the balance in the accounts and our requirements. If a Grant of Representation is required, this process will take longer. Your solicitor or the Probate Office can advise you on how long this will take. At Kuflink, we will work with you or your representative to make this process as efficient as possible.