Investment Bond Policy

[Kathyan]

My husband has been left a share in an investment bond policy (Scotland). He has just contacted the solicitor to cash in his share. Does anyone know how long it is likely to take please?

[factor-fiction]

Has he asked the solicitor? He should be more familiar with details than I am.
Do you need the money quickly to pay for the funeral?

[Kathyan]

No to both questions! He is more patient than I am. I was just looking for an estimate that's all.

[factor-fiction]

It depends on varous things such as whether probate has been granted now, which company the bond is with (some are quite slow), and what type of bond it is (e.g. is it a fixed term?)

[dzug]

Antyhing between a couple of weeks and a couple of years, depending where the solicitor is in the probate process.

[Kathyan]

Apparently it's nothing to do with the will. He had a letter from the solicitor stating that he could leave it running, cash in part of it or cash in all of it.

[buildersmate]

In which case the solicitor probably has the required Grant of Probate (or whatever the similar equivalent term is in Scotland) and the solicitor merely wants to know what he wants to do with it. What he does with it depends on him - solicitor won't be willing or able to provide financial advice. There will be a 'sell' price, but it is an investment (not a savings) product whose value may go up or down in future.