We’ve been told that the need for probate can be avoided when one of us dies by only having a certain amount of money in your bank or building society. Each bank sets its own limit, and providing you keep it under that sum they pay out to the surviving partner. So if your savings are split between different banks there’s no need for probate. Most of our savings are not in joint names.
Banks will often pay out sums between £5,000 and £15,000 without requiring production of a Grant of Probate, so there is some truth in what you say. However it seems an elaborate scheme to avoid probate fees which are currently only £155 when application is made via a solicitor (otherwise £215) and there are currently proposals to scrap probate fees altogether for estates valued at under £50,000.