You may complete a nomination form which specifies who you nominate to be the beneficiary of the monies in your account when you die, up to a maximum of €23,000 in total. Any remaining balance will be paid into your estate. A nominee must be a natural person and you can nominate more than one person. A valid nomination supersedes a will or codicil to a will.
Where there is no nomination form, or if the nomination is invalid, the monies may be paid to your estate.
In either of the above scenarios the credit union will only initially release up to €23,000 in total. Grant of Probate will be required for any amounts in excess of €23,000. There are no exceptions to this.
Nomination forms are available at both of our offices.