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Nerdy Note: Do debts die with you?
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any spare cash from their 'estate' was spread amongst the grandkids.
Sometimes seen lurking on the compers forum :-)
What i want to find out is this, 3 weeks ago my father died. When i asked him what financial arrangements had been sorted, he told me he had a pension in trust, which he could draw at 65. If he died b4 it would be left to his beneficiaries, if he died after 65 when he was drawing it, it would pass to his wife, our stepmother. Recently he changed his list of beneficiaries as it was all to go to my brother, and he split it 25% to me, brother, stepbrother and stepmother. They both were under the impression it was 70% to stepmother and 10% to the rest of us, which was never the case at all, so where they got that from i've no idea!! Now my father had no debts in his name apart from one credit card from years ago as he was unable to obtain any credit, so when they mentioned that he wanted his debts paying off i was a bit shocked (bear in mind NOTHING has been written down as to his wishes, it's their word for it). They then announced that these debts were in STEPMOTHERS name (no wonder it was one of his wishes!!) From what i can understand me and my brother are not legally responsible to pay of these debts that are NOT in fathers name, from any monies that come from his trust pension. Am i right??
This is very interesting, my father passed away this week and had a credit card in his name only with debt on it of around 3K. Does this mean that it doesn't pass to my mother? When I rang the credit card company (lloyds tsb) they more or less said that it was due and payable but I had to produce a death certificate at the branch and the branch would then ring head office to find out what is to be done. Could just do with something concrete to quote when I go to the branch with the certificate, I would hate to think that mum was going to get shafted by the credit card company if it's not necessary and I can stop it.
Thanks
She did, but now they're saying they paid my dad too much DLA just before he died and are now asking for over £200, this is causing my mum so much stress. The house they have is rented and my dad had nothing of value, my mum is on Incapacity Benefit, only £98 a week, are they allowed to do this? thanks