Need for Probate?

[field]

Where husband wife make wills leaving everything to the survivor on first death and all assets including the house are are in joint ownership other than substantial ISAs owned by both would it
be necessary to obtain probate in order to execute the will following first death? Advice commonly given is is that probate is not required but ISAs are inherently individual rather than jointly owned and it seems unclear- to me at least- whether or not this alters the situation.
Any help would be much appreciated.

[AGoodman]

There is no obligation to obtain probate but you would need it to transfer an ISA unless the provider agreed to transfer without. That is entirely at their discretion.

Some banks will allow access to accounts up to about £25k but this varies from 0 to £50k. The only way to know the particular institution's policy is to ask them.

[pawncob]

A transfer of investments is only possible where you both have the same ISA provider, so it's likely that they will transfer without probate, but as AGoodman says, it's at their discretion.
https://www.gov.uk/individual-savings-accounts/if-you-die

[AGoodman]

Good point.

In any case, if the proceeds are over £50,000 I would be extremely surprised at them actioning anything without probate (and raised eyebrows for over £20k)

[field]

Many thanks for the various comments.In the light of these it does seem to me that the most straightforward way would be to accept the need to apply for probate and also the IHT 205 form. If anyone has any further views they would be much appreciated.