BR on Mon - help with forms!

OhDear · 1 November 2008 at 8:04AM

Morning All,

Although I've had the forms for a week, I've been busy working. So although there's been lots of preparation I only started actually filling in form yesterday. Some of the questions are a b*gg*r and I have to say that the guidance notes and examples are wholly inadequate!

I'm sure there will be more questions that I need help with (CCCS helpline not open at weekends!), but here's one for the moment.

WILLS:
I wasn't planning on announcing my BR to the whole family (well any of them actually), so I do not know how to answer this? My mother is elderly and in a home for dementia. Two of my siblings have power of attorney, but I'm not sure of who is the executor(s) of the will? I also don't know if I will be able to get this info before Monday am.

Can I make guesstimates? When my Mother passes away, and if that is during the next year, I would get about 8K from cash/investments. She has a property (currently for sale) but her partner owns half and has life tenancy rights. The property is for sale as the money from this and her investments may all be needed to pay for her care. The longer the property takes to sell, the less capital will be in the estate. So in the long term I may not receive anything. That's not a problem to me! I'm not after her money, but the OR might be. Anyway, can I use this limited info for the form or should I make every effort to clarify the will and any current value?

Help!? OD

fiveyearplan · 1 November 2008 at 8:10AM

Hi Oh Dear, I know what you mean about the forms! I don't remember anything about wills being on there, that must be a new addition. What section is it in? I have both parents still alive and healthy and have no idea about their wills until they die and I wouldn't dream of asking!

OhDear · 1 November 2008 at 8:21AM

Thanks FYP,

It's in the assets section, so I guess the OR has an interest - potentially. But as you say I don't really want to ask - never have. The figures I know on cash/investments are based on discussions 14 months ago when as a family we had to face the choice and cost of care.
Also to ask now (without announcing BR to family), with a "I must know the numbers before Monday am!" doesn't sound too good does it!:eek:

OD

fiveyearplan · 1 November 2008 at 8:26AM

I would seriously argue with that point about wills being on the forms, as I said, how do you know if you are in anyone's will? Are you sure it doesn't mean wills that are already being executed?

As an example, a woman from work was on the phone to her husband yesterday and she let out a big cheer - apparently her aunt had died and left her a big windfall. She never even knew she was in the will so it was completely out of the blue.

I suppose if that was on the forms when I went BR in April I would have put none because I honestly don't know and I'm not going to go around asking.

OhDear · 1 November 2008 at 8:40AM

Good point! But there is a note on the NE Derbyshire CAB SOA example page9 stating that one should "always thoroughly check if you are named in a will". I guess it might be a hint that I should tell my family about BR.
It's not that they won't be understanding, although I do owe a brother 7K. It's a long term debt and I guess I might have to tell him, even though most advise is that OR is not interested in debt to family. I guess it still needs to go on form, and I'd rather tell him than the OR. Ironically, he's the one sibling I don't really get on with, so if I tell him I'd have to tell the others.
As I say they'll be understanding, but I just don't want the constant sympathy. I'm looking forward to a life not revovling around BR and forms. I'm happy to live with the consequences, but I do want to move on.

dalip · 1 November 2008 at 9:40AM

Yes i have an elderly father and know that i would get a quarter share in his house if anything happens. I never put anything on the SOA about it, as i only found out yesterday,when he had to do a revised will;) .Dx

Just looked and its referring to any money ect due to you at the time of bc.So you dont have to put anything in about being in a will.Dx

peachyprice · 1 November 2008 at 10:35AM

As D said, you don't need to put anything in this section unless the person has already died and the will is in the process of being settled.

OhDear · 1 November 2008 at 10:47AM

Doh! Thank you all, so much!:beer:

That's that question out of the way then. It's so easy to misread when you're stressed. I'm sure I'll be back with more questions. I want to get it done today, as there's a birthday party to go to tomorrow and it would be nice to know that the form is sorted.

Thanks again.

OhDear · 1 November 2008 at 11:00AM

Another question.

Do you think that a car on HP (lease purchase) should be listed in assets? The agreement states that legal ownership would only be transferred to when the final balloon payment is made. I'm the registered keeper of the car, but not the owner.
So currently it has no value to me at all. I understand that the OR will not be interested, but I presume it still needs to be on the form.
OH thought it should be listed under 'Tools of the trade" as I'm a driving instructor, to make it absolutely clear that I need the car. Any thoughts?

:beer:

neverindebtagain · 2 November 2008 at 9:46AM

Just want to say good luck for tomorrow

fiveyearplan · 2 November 2008 at 9:57AM

AS the form specifically asks about cars, I would put it in the assets section. If you happen to put it in the wrong place don't worry - the forms can be confusing and the OR will not penalize you for making a mistake. As the car is on HP the OR will not have an interest in it, he may however not allow it on your SOA but this is where you explain that it is a tool of the trade and if you don't have the car you cannot make a living.

Are you self employed or employed? If you are self employed are you sole trader or limited company? This could make a huge difference.

BR on Mon - help with forms!

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