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Life Insurance and Probate
nic1lou2
Posts: 686 Forumite
Hi I wonder if anyone could help me with some information.
My MiL very recently died and we are in the process of arranging her funeral. My husband has been on very short time and we have gone throught all our savings now trying to keep our heads above water.
She took out a small life insurance policy which we have been paying for, out of our bank account, to cover her funeral costs (there will still be a small shortfall even after this) - what I need to know is will this be subject to Probate. She only had savings of in the region of £3000 that we know of plus this insurance, no property as she was in council accomodation.
We are panicking as we are not sure if we can pay the Funeral Directors in time.
Does anybody know where we stand please?
My MiL very recently died and we are in the process of arranging her funeral. My husband has been on very short time and we have gone throught all our savings now trying to keep our heads above water.
She took out a small life insurance policy which we have been paying for, out of our bank account, to cover her funeral costs (there will still be a small shortfall even after this) - what I need to know is will this be subject to Probate. She only had savings of in the region of £3000 that we know of plus this insurance, no property as she was in council accomodation.
We are panicking as we are not sure if we can pay the Funeral Directors in time.
Does anybody know where we stand please?
"Keep smiling, it makes people wonder what you are up to........"
Dieting ........... is no piece of cake!!!!:D
Weight loss since January 2011 - 5st 5 lbs!!!!!
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Comments
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The person who makes the arrangements is responsible for paying the funeral directors, and normally they won't wait till probate granted.
The life policy will be subject to probate.
If you are on certain benefits you may be eligible for a Funeral Payment (though this may be a loan, and have to be repaid):
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Bereaved/DG_100186600 -
Hi thanks for the reply - no we are not on any benefits as we are working although on a really reduced income now - so would not be eligible for a Funeral Payment."Keep smiling, it makes people wonder what you are up to........" Dieting ........... is no piece of cake!!!!:D
Weight loss since January 2011 - 5st 5 lbs!!!!!0
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When my mother died, with similar savings in the bank, the bank allowed my brother to draw on £2000 to pay the funeral expenses. Have you spoken to the bank?0
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Funeral expenses are allowed to be paid out of the estate by the executorI am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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