Great 'Unpleasant issues of age chat' Hunt

Hezzawithkids

Just a couple of things. A close relative died earlier this year and she had a Funeral Plan (taken out with a local funeral director) so everything was already decided and paid for which made things so much easier for her OH to deal with. She'd chosen the coffin, flowers, music and headstone plus paid for her plot in the cematorium. This has inspired OH & I to do the same and its actually quite fun chosing the music!

We also have reflecting wills but one word of caution: if we die before our children are 18 then my BIL & his missus become their tertiary guardians, which means they get control if our estate while our kids are in their care. I do not trust my SIL one little bit so I have added a "Letter of Wishes" to my will so that my DD gets all my good jewellry (wedding, enagagement rings etc), then its up to her as to whether to keep them or not. If it was left up to SIL she would probably sell the lot then spend the money at M&S....

Dibblersan_3

I am a Will Writer but after 40 plus years working for a Bank Trust Co, writing Wills I don't agree that a Solicitor is needed. It depends on your circumstances. I would never ever go to a £49 Will Writer - you pay for what you get. To satisfying yourself that the Client is competent to dispose, to take instructions, prepare a draft, submit that for approval, amend as necessary, print the Will, ensure that it is properly signed all takes time - probably about 2 - 3 hours. A reasonable hourly rate would be between £30 and £75 per hour, so a charge for a single will should be around £90, for a couple with identical dispositions £120. More complex Wills with Trusts a charge should be around £300 - £450.

LPA's are complex and need to be properly signed as well as prepared - look for at least 4 - 5 hours work. The OPG is also well known at present for delay after delay after delay and then after taking your fee, losing the original document. I understand that they are employing temporary staff to deal with the backlog, but.....

Lastly, if you are appointed as an Attorney, do bear in mind that when your elderly Aunt starts to lose capacity she will get bitter and nasty about you acting on her behalf. This I know!!

Errata

Declutter your bank accounts. Check that all your Direct Debits are still relevant - if they're not, stop them.

froyd

Will I have to sell our home to pay for care fees for my husband?
My husband retired some 7 years ago, I work full time & have another 7 years until I can retire.
We can not claim any benefits at present, I earn a low salary & have very little in savings.

Savvy_Sue

froyd wrote: »

Will I have to sell our home to pay for care fees for my husband?
My husband retired some 7 years ago, I work full time & have another 7 years until I can retire.
We can not claim any benefits at present, I earn a low salary & have very little in savings.

First question, does your husband NEED to go into a care home? Far fewer people do than we think, IYSWIM.

Second question, how do you own your home, is it solely in his name, or are you Joint Tenants or Tenants in Common? with one of the latter, you can dispose of 'your' share of the house independently in your will, with the other 'your' share passes automatically to the survivor, who then owns the whole house.

But the short answer is it may depend, but almost certainly not. AgeUK and Counsel and Care will have useful factsheets. And there are threads on this board covering the subject at length.

margaretclare

froyd wrote: »

Will I have to sell our home to pay for care fees for my husband?
My husband retired some 7 years ago, I work full time & have another 7 years until I can retire.
We can not claim any benefits at present, I earn a low salary & have very little in savings.

No, you will not, so long as you remain living there. What would be the point - you have to live somewhere, haven't you?

[Deleted User]

When considering the future, don't forget pets if there is a likelihood there will not be someone to take them on.

The RSPCA do a free Home For Life scheme.

More at http://www.homeforlife.org.uk/about-us/

Errata

There's also the Cinnamon Trust for those who can no longer look after their pet http://www.cinnamon.org.uk/cinnamon-trust/

randplp

cliveoram wrote: »

Stories like that of Heather Bateman whose husband Michael was left in a coma following a road accident really make people realise just how difficult, distressing and expensive life can be when arrangements are not put in place to deal with life's tragedies. Putting your affairs in order not only makes it easier for your loved ones when you are not there but actually helps you to plan ahead with confidence and with better information about your financial status.

I have a friend who's husband died suddenly and young (31). She was left with no access to his money and a father-in-law who didn't like her. Because there was no will he (father-in-law) inherited everything leaving her and their daughter on the streets. Not sure if that would happen these days (it was 30ish years ago) but it must be best to make sure everything is in order as soon as children arrive - no matter the age you are. :think:

pollypenny

randplp wrote: »

cliveoram wrote: »

Stories like that of Heather Bateman whose husband Michael was left in a coma following a road accident really make people realise just how difficult, distressing and expensive life can be when arrangements are not put in place to deal with life's tragedies. Putting your affairs in order not only makes it easier for your loved ones when you are not there but actually helps you to plan ahead with confidence and with better information about your financial status.

I have a friend who's husband died suddenly and young (31). She was left with no access to his money and a father-in-law who didn't like her. Because there was no will he (father-in-law) inherited everything leaving her and their daughter on the streets. Not sure if that would happen these days (it was 30ish years ago) but it must be best to make sure everything is in order as soon as children arrive - no matter the age you are. :think:

Surely the wife would inherit if there's no will? She is next of kin.

If they were not married, but living as husband and wife, blood relatives would be next of kin and thus inherit.