How to claim Premium Bonds after a death
The Executor can trace and claim Premium Bonds belonging to the deceased either online or by post. If applying by post, they must include a copy of the death certificate and the Will. If applying online, the Executor must complete a bereavement claim form. NS&I will review the application before potentially requesting a Grant of Probate.

Do you need probate for Premium Bonds?
Probate, or a Grant of Probate, is the legal document that grants the Executor the right to administer the deceased’s estate. It is not required upon every death, as if the deceased did not own any sole assets or had an estate low in value, the assets can usually be sold or transferred without probate. Each financial institution has its own individual threshold for how much the estate is worth before probate is required, which is generally between £5,000 and £50,000. Learn more about probate thresholds here.

These thresholds also affect Premium Bonds. Similar to banks and building societies, NS&I has a limit on how much money they can release without a Grant of Probate. This threshold is £5,000; therefore, if the deceased owned Premium Bonds of a value of over £5,000, probate will be required.

If someone dies without a Will, a Grant of Probate is instead known as Letters of Administration, but it grants the individual the same legal right to administer the estate. In these cases, the person responsible for dealing with the estate is known as an Administrator.

Do I have to manage Premium Bonds myself?
If you’re acting as an Executor or Administrator on an estate, managing Premium Bonds is one of many tasks that must be undertaken. Estate administration can involve complicated paperwork, tax work, and legal jargon that not everyone feels able to deal with themselves. Whilst you can choose to handle this process yourself, help is available.

Here at Barnet Wills, we are experts in probate and estate administration, our estate solutions range from simply obtaining the Grant of Probate to full estate administration. We can help you manage the deceased’s property and assets, including any Premium Bonds, taking the financial and legal responsibility off your hands.