Authority comes first
The person dealing with an account or liability may need to show the appropriate grant or other authority. A beneficiary’s entitlement is different from the personal representative’s authority to collect and administer an asset. Institutions may have their own evidence requirements.
Debts are dealt with before distribution
Sections 41 and 42 of Cap. 189 address collection of the estate, expenses, lawful debts and the order in which debts are paid. Executors and administrators should identify liabilities and keep a reliable record before paying beneficiaries. Early distribution can create avoidable risk.
Estate money should be traceable
Section 43 addresses the estate bank account and payments. Its consolidated text includes the 2025 amendment permitting payment by bank cheque or credit transfer, subject to the section and any applicable court direction or exemption. Keep estate money separate and retain statements and supporting vouchers.
Ask the institution, but check the law
A bank’s internal process does not decide succession rights. Ask what documents the institution requires, whether an account is sole or joint and whether there are linked liabilities, while the adviser assesses ownership, authority and the estate accounts.